NARENDRA SHANTIKUMAR FIRODIA,AHMEDNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AHMEDNAGAR

Bench: Hon’Ble Shri Ss Viswanethra Ravi & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 494/Pun/2020 निर्धारण वर्ा / Assessment Year : 2014-15 Shri Narendra Shantikumar Firodia, 5 Shobha Sadan, Aurangabad Road, Dsp Chowk, Ahmednagar – 414 002 Pan :Aabpf6158K . . . . . . . अपऩलधथी / Appellant बनाम / V/S. Dy. Commissioner Of Income Tax, Ahmednagar. . . . . . . . प्रत्यथी / Respondent द्वारा / Appearances Assessee By : Shri C. H. Naniwadekar Revenue By : Shri Ramnath Murkunde सपिवधई की तधरऩख / Date Of Conclusive Hearing : 13/10/2022 घोर्णध की तधरऩख / Date Of Pronouncement : 09/12/2022 आदेश / Order Per G. D. Padmahshali, Am; The Present Appeal Is Assailed Against The Order Of Commissioner Of Income Tax (Appeals)-2, Pune [For Short “Cit(A)”] Dt. 20/03/2020 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”] Upholding The Order Of Assessment Dt. 28/12/2016 Passed U/S 143(3) Of The Act By Asstt. Commissioner Of Income Tax, Ahmednagar Circle, Ahmednagar [For Short “Ao”] For The Assessment Year [For Short “Ay”] 2014-15. Itat-Pune Page 1 Of 8

68. 10. In view of the aforesaid factual position and in law, we find that the present transaction of transfer of leasehold right in question does not warrant invoking of section 50C(1