MEHUL JADAVJI SHAH,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI
In the result, the appeal of the assessee regarding of partly allowed
ITA 1380/MUM/2021[2015-2016]Status: DisposedITAT Mumbai10 Oct 2022AY 2015-2016
Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.191/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) & आयकर अपील सं/ I.T.A. No.1380/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2015-16) Mehul Jadavji Shah बिधम/ Dcit, Central Circle-7(2) 1301, 13Th Floor, Peninsula Room No. 655, 6Th Floor, Vs. Business Park, Tower-B Aayakar Bhavan, M. K. Senapati Bapat Marg, Road, Mumbai-400020. Lower Parel (W), Mumbai- 400013. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aajps1654H (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Sukhsagar Syal Revenue By: Shri P. R. Mane (Dr) सुनवाई की तारीख / Date Of Hearing: 20/07/2022 घोषणा की तारीख /Date Of Pronouncement: 10/10/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:
For Appellant: Shri Sukhsagar SyalFor Respondent: Shri P. R. Mane (DR)
Section 143(3)Section 56(2)Section 56(2)(vii)
u/s 56(2)(vii) of the Act. Further, according to him, the transaction has to be considered as a single transaction i.e. from Mr. Sanjay & Heena of Rs.5 crores each to assessee and the Donor Smt. Santaben the aunt was only a conduit
A.Ys. 2015-16
Mehul Jadhavji Shah
and so the whole transaction was a sham and colourable device