PARVINCHAND N. SEHGAL (HUF),MUMBAI vs. ITO 24(3)(2), MUMBAI

In the result, the appeal filed by the assessee is hereby ordered to be allowed

depreciable asset. During the year, the assessee had sold the entire block of fixed asset and claimed addition to this block of asset which was ceased to be exit and entire sale proceeds less W.D.V is taxed as short term capital gain. The business asset which the assessee claimed to put to use was purchased with

BANK OF INDIA,MUMBAI vs. ASST. CIT-2(1)(1), MUMBAI

In the result, the appeal of the Assessing Officer is partly allowed in the terms indicated above

54G, Section 24 of the General Clauses Act would apply, and the notification of 1967, declaring Thane to be an urban area, would be continued under and for the purposes of Section 54A. 14. When such are the views of Hon'ble Supreme Court in respect of validity of notifications in respect of amendment in law by re-enactment

ACIT -893) (1) , MUMBAI vs. M/S. TRIPLE SECURITIES PVT. LTD, MUMBAI

54G and 54GA use the expression „land or building or any right in land or building‟. Therefore, the scope of deeming fiction contained in Section 43CA of the act would apply only in the case of transfer of asset (other than capital asset) being land or building or both and the same cannot be extended to cover any right

EVEREST INDUSTRIES LTD. ,NOIDA vs. DY CIT CIRCLE- 1 , THANE

In the result, the appeal of the Revenue is dismissed whereas

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2006-07 Everest Industries Ltd., Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- Vs. 201301, Uttar Pradesh, India. Wing 16-Z, Wagle Industrial Estate, Thane (W)-400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2006-07 Dcit, Circle-1, Everest Industries Ltd., Ashar I.T. Park, 6Th Floor, B- G-1, A-32, Genesis Mohan Vs. Wing 16-Z, Wagle Industrial Coop. Industries, Mathura Estate, Thane (W)-400 604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent

54G of the Act allowed by the L exemption u/s 54G of the Act allowed by the Ld. CIT(A) d. CIT(A). The grounds raised by the assessee are also in relation to the grounds raised by the assessee are also in relation to the grounds raised by the assessee are also in relation to the computation

DCIT, CIRCLE-1 ,, THANE vs. EVEREST INDUSTRIES LTD., MUMBAI

In the result, the appeal of the Revenue is dismissed whereas

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2006-07 Everest Industries Ltd., Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- Vs. 201301, Uttar Pradesh, India. Wing 16-Z, Wagle Industrial Estate, Thane (W)-400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2006-07 Dcit, Circle-1, Everest Industries Ltd., Ashar I.T. Park, 6Th Floor, B- G-1, A-32, Genesis Mohan Vs. Wing 16-Z, Wagle Industrial Coop. Industries, Mathura Estate, Thane (W)-400 604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent

54G of the Act allowed by the L exemption u/s 54G of the Act allowed by the Ld. CIT(A) d. CIT(A). The grounds raised by the assessee are also in relation to the grounds raised by the assessee are also in relation to the grounds raised by the assessee are also in relation to the computation