DY CIT DD-4(2), MUMBAI vs. M/S SHETH DEVELOPERS P. LTD., MUMBAI

In the result, appeal of the Revenue in ITA No

50C(1), as elaborated above, we see no need to deal with other issues raised in the appeal before us. As of now, those issues are infructuous and do not call for any adjudication at this stage.” 4.1. Respectfully following the same, we hold that the ld. CIT(A) had rightly deleted the addition made in the sum of Rs.3

SHETH DEVELOPERS P. LTD.,MUMBAI vs. ACIT CENTRAL CIECLE-4(2), MUMBAI

In the result, appeal of the Revenue in ITA No

50C(1), as elaborated above, we see no need to deal with other issues raised in the appeal before us. As of now, those issues are infructuous and do not call for any adjudication at this stage.” 4.1. Respectfully following the same, we hold that the ld. CIT(A) had rightly deleted the addition made in the sum of Rs.3

DY CIT DD-4(2), MUMBAI vs. M/S SHETH DEVELOPERS P. LTD., MUMBAI

In the result, appeal of the Revenue in ITA No

50C(1), as elaborated above, we see no need to deal with other issues raised in the appeal before us. As of now, those issues are infructuous and do not call for any adjudication at this stage.” 4.1. Respectfully following the same, we hold that the ld. CIT(A) had rightly deleted the addition made in the sum of Rs.3

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. PANKAJ ENTERPRISES, MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

2 and 3 of the appeal as well as raised of the appeal as well as raised by the assessee in ground No. see in ground No. 1 of its appeal. Pankaj Enterprises ITA NO. 3773, 4875 & 12. The assessee in its computation of long The assessee in its computation of long-term capital gain has term capital gain

ASSISTANT COMMISSIONER OF INCOME TAX 25(3), MUMBAI vs. PANKAJ ENTERPRISES, MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

2 and 3 of the appeal as well as raised of the appeal as well as raised by the assessee in ground No. see in ground No. 1 of its appeal. Pankaj Enterprises ITA NO. 3773, 4875 & 12. The assessee in its computation of long The assessee in its computation of long-term capital gain has term capital gain

PANKAJ ENTERPRISES,MUMBAI vs. JT CIT RG 25(3), MUMBAI

In the result, both the appeals of the Revenue for AY 2012

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2012-13 Pankaj Enterprises, Jt. Cit Range-25(3), C/O Shankarlal Jain & Assoicates Pritashkar Bhavan, Bkc, 12, Engineer Building, 265, Vs. Bandra (E), Princess Street, Mumbai-400051. Mumbai-400 002. Pan No. Aacfp 3044 K Appellant Respondent Assessment Year: 2009-10 & Assessment Year: 2012-13 Asst. Commissioner Of Income Tax- M/S Pankaj Enterprises, 25(3), Plot No. 1, Behind Ice Factory, Room No. 601, C-10, 6Th Floor, Vs. Saki Vihar Road, Chandivali, Pratyakshakar Bhavan, Bandra Mumbai-400072. Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfp 3044 K Appellant Respondent Co No. 313/Mum/2018 (Ita No. 4875/Mum/2017) Assessment Year: 2009-10 & Co No. 312/Mum/2018 (Ita No. 4876/Mum/2017) Assessment Year: 2012-13

2 and 3 of the appeal as well as raised of the appeal as well as raised by the assessee in ground No. see in ground No. 1 of its appeal. Pankaj Enterprises ITA NO. 3773, 4875 & 12. The assessee in its computation of long The assessee in its computation of long-term capital gain has term capital gain

SHRI MOHD. ILYAS ANSARI,MUMBAI vs. INCOME TAX OFFICER 23(2)(3), MUMBAI

In the result, appeal of the assessee is allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleshri Mohd. Ilyas Ansari V. Income Tax Officer - 23(2)(3) Room No. 22, 1St Floor Room No. 110 Building No. 41, Bootwala Manzil Matru Mandir, Tardev Road Navpada, Bandra(E) Mumbai – 400 007 Mumbai - 400051 Pan: Aexpa7459N (Appellant) (Respondent)

50C(2) of the Act has to be read as "should" so that the provision is not rendered redundant. 14. Ld. Counsel for the assessee placed reliance on the following decisions in support of his contentions: - (i) CIT v. Sh. Chandra Narain Chaudhri in Income Tax Appeal No.287 of 2011 dated 29.08.2013 of Hon'ble Allahabad High Court. (ii) Meghraj

KETAN HIMATLAL MEHTA,MUMBAI, MAHARASHTRA vs. NFAC, NOT APPLICABLE

Accordingly, order the CIT(A) is overturned and the addition of LTCG of INR.6,30,873/- is deleted. Thus, Ground No. 3 raised by the Assessee is allowed

Bench: making this addition in the Appellate Order. Reasons assigned by him are wrong and insufficient. Therefore, Appellant prays for the deletion the addition of Rs.6,30,873 as confirmed by the Learned CIT(A).

68,32,379/- after making addition of INR.1,35,17,669/- to the returned income of INR.1,33,14,710/-. Being aggrieved, the Assessee challenged the additions made by the Assessing Officer before the CIT(A). Vide order dated, 26/03/2024, the CIT(A) confirmed the addition of INR.1,35,17,669/- made by the Assessing Officer under Section

ITO 22(3)(2), NAVI MUMBAI vs. MEGHI PARBAT PATEL, NAVI MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2011-12 Income Tax Officer-22(3)(2) Shri Meghji Parbat Patel, 3Rd Floor, Room No.307, Prop. G.D.Enterprises, बनाम/ Tower No.6, Vashi Rly Flat B-5, Plot No.46, Vs. Station Complex, Vashi, Anand Niketan Chs, Navi Mumbai Vashi, Navi Mumbai-400705 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Afmpp7902H

68 SOT 110 (Pune – Trib.) 2. M/s. Fordham Pressings (India) Pvt. Ltd. vs. DCIT [ITA No.6033/Mum/2010] decided on 25.04.2012 3. M/s. Heatex Products Pvt. Ltd. vs. ACIT [ITA No.8197/Mum/2010] decided on 24.07.2013 4. ITO vs. M/s. Pawaskar Shipping & Trading Company Pvt. Ltd. [ITA No.872/Mum/2008] decided on 29.07.2011 In view of the settled position on this issue, the section 50C

FARID GULMOHAMED,MUMBAI vs. ITO (IT) 3(1), MUMBAI

In the result, the assessee’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainshri Farid Gulmohamed Income Tax Officer C/O. M/S. B.C. Dastur & Co. (Internationla Tax) 3(1) Vs. Reliance Bldg., 3Rd Floor Schindia House, Ballard Estate 269, D.N. Road, Mumbai Mumbai 400038 Pan - Aefpg3094K Appellant Respondent

68 SOT 110 (Pune – Trib.) 2. M/s. Fordham Pressings (India) Pvt. Ltd. vs. DCIT [ITA No.6033/Mum/2010] decided on 25.04.2012 3. M/s. Heatex Products Pvt. Ltd. vs. ACIT [ITA No.8197/Mum/2010] decided on 24.07.2013 4. ITO vs. M/s. Pawaskar Shipping & Trading Company Pvt. Ltd. [ITA No.872/Mum/2008] decided on 29.07.2011 In view of the settled position on this issue, the section 50C

DY. COMMISSIONER OF INCOME TAX(E)-2(1), MUMBAI, CUMBALA HILL, MUMBAI vs. THE GEM AND JEWELLERY EXPORT PROMOTION COUNCIL, MUMBAI

In the result, appeals of the revenue in ITA nos

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

50C amount to Rs.79,62,000/- which works out total amount to Rs.17,33,88,833/-. Being aggrieved, the assessee filed an appeal before the Ld.CIT(A). After considering the assessee's submission, the exemption under section 11 is considered and the entire addition is deleted. Ld. CIT(A) has considered the Proviso to section 2

PRATAP RATAN DAS,MUMBAI vs. ITO 14(1)(4), MUMBAI

In the result, the assessee’s appeal is dismissed

Bench: Shri Jason P. Boaz, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 1272/Mum/2012 ("नधा"रण वष" / Assessment Year: 2008-09)

section 50C of the Income Tax 1961. 5. The learned Commissioner of Income Tax (Appeals) XXIV, Mumbai , has erred on facts and in law by upholding The assessment made by the ld AO as Agricultural Income ,which was made without revealing the recording of subjective satisfaction Enunciated under the relevant provisions, where material found at the time of assessment

25FPS MEDIA PVT. LTD.,MUMBAI vs. ITO ,RANGE -6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

68,31,658 50,12,37,435 4,36,73,445 shares Ltd., were transferred at cost while only 2,31,58,213 shares were gifted. Total 57,90,33,060 18. Against the above addition by AO, assessee approached to CIT(A). 19. It was pleaded before the CIT (A) that the transfer of shares made without consideration

ITO 6(3)(1), MUMBAI vs. 25 FPS MEDIA PVT. LTD. , MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

68,31,658 50,12,37,435 4,36,73,445 shares Ltd., were transferred at cost while only 2,31,58,213 shares were gifted. Total 57,90,33,060 18. Against the above addition by AO, assessee approached to CIT(A). 19. It was pleaded before the CIT (A) that the transfer of shares made without consideration

MOHD RAZA AKBERALI GHUGHARIA,MUMBAI vs. ITO 15(2)(3), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2005-06 Mohd Raza Akberali Ito 15(2)(3), Ghugharia, Matru Mandir Tardeo, बनाम/ M/S. N.S. Virani & Co., C.A. S Mumbai-400034 Vs. 28, Bhanushali Bldg. 35, Mint Road, Mumbai-400001 (Assessee) (Revenue) P.A. No.Aabpg3107B "नधा"रती क" ओर से / Assessee By Shri Vijay Mehta & Shri Anuj Kisnadwala. (Ar) Shri K. V. Vispure ( Dr) राज"व क" ओर से / Revenue By 27/04/2016 सुनवाई क" तार"ख / Date Of Hearing : आदेश क" तार"ख /Date Of Order: 01/07/2016

section 50C should be deleted and the exemption of Capital Gain claimed by the Appellant u/s 54 of the I.T. Act, may be accepted and the Assessing Officer may be directed to modify his assessment accordingly.” 3 Mohd Raza Adberali 2. In this case it has been noted that the appeal has been filed late before the Tribunal

DEPUTY COMMISSIONER, MUMBAI vs. GAURAV INVESTMENTS, MUMBAI

In the result, the appeal by the Revenue is dismissed

Bench: Shri Sandeep Singh Karhailshri Prabhash Shankardeputy Commissioner Of Income Tax, Room No.656, 6Th Floor, Aaykar Bhavan, Maharishi Karve Road, Mumbai - 400020 ............... Appellant V/S Gaurav Investments, 1St Floor, B & C Block, Tradelink, E-Wing, ……………… Respondent Kamala Mill Compounds, Senapati Bapat Marg Lower Parel, Mumbai – 400023 Pan: Aadfg0064D

68,990 11,46,31,010 2 Fair Market Value as per 20,08,13,000 12,40,66,000 12,48,65,000 DVO 3 Difference 33,13,000 86,97,010 1,02,33,990 4 Difference in % 1.68% 7.54% 8.93% 5 7. We find that while considering the similar issue regarding the applicability of a higher tolerance

MADHU SARDA,MUMBAI vs. ITO 19(2)(4), MUMBAI

In the result, the grounds of appeal raised by the

Bench: Shri B. R. Baskaran & Shri Pawan Singhin The Matter Of Mrs. Madhu Sarda , 38,Vikas Center, S.V. Road, Santacruz (West) Mumbai-400054 Pan: Aajps 5135R Appellant/ Assessee Versus Income Tax Officer, -19(4) Mumbai Respondent/ Revenue

68,050/- ------------------------- Rs. (-) 35368050/- Total no. of Shares 25,000 Value of the Equity Shares (-) Rs.141/95/- per shares Breakup value per share being 80% of above (-) Rs. 1699/13/- As against the same, the assessee has sold the shares @ Rs.100/- per shares which is face value of each equity share.” 6. The assessee also furnished the copy of Income tax return

INDUSIND INFORMATION TECHNOLOGY LTD ( NOW SUCCEEDED ON AMALGAMATION BY HINDUJA GROUP LTD ),MUMBAI vs. DCIT CENTRAL CIRCLE 2(3), MUMBAI

In the result, the appeal of the assessee is dismissed

2) and 142(1) of the Act were issued. The\nassessee objected the adoption of stamp duty value for computation of\nFair Market Value of the asset for the purpose of computation of capital\nand requested that matter should be referred to DVO. The AO referred\nthe matter to DVO, Chennai who submitted his report and valued the\nproperty