SHAKIL HAMID SHEIKH,NAVI MUMBAI vs. ACIT 22(3), MUMBAI
In the result, the appeal filed by the assessee in ITA No
ITA 6775/MUM/2013[2008-09]Status: DisposedITAT Mumbai17 Nov 2016AY 2008-09
Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 6775/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) Shri Shakil Hamid Sheikh, Asstt. Commissioner Of बनाम/ Survey No. 183, Income Tax – 22(3), V. Kukshet, Mumbai. Opp. Hpcl, Midc, Navi Mumbai – 400 703. "थायी लेखा सं./Pan : Abqps2677G .. (अपीलाथ" /Appellant) (""यथ" / Respondent)
For Respondent: Ms. Pooja Swaroop, D.R
Section 143(2)Section 143(3)Section 271(1)(c)Section 50CSection 50C(2)Section 54B
Section 50C of the Act. The ld. Counsel submitted that the assessee was under a belied that he had sold agricultural land and the assessee was under the bonafide belief that capital gains arising thereon are exempted from capital gain tax u/s 54B of the Act. It was submitted that the land sold was an industrial land and reinvestment
