NISHANT PAREKH- LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD-1(3), JAMNAGAR
In the result, the appeal of the assessee is allowed
ITA 215/RJT/2025[2015-16]Status: DisposedITAT Rajkot14 Oct 2025AY 2015-16
Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.215/Rjt/2025 "नधा"रणवष" / Assessment Year: (2015-2016) Nishant Parekh – Legal Heir Of Vs. Income Tax Officer Mina Parekh Aaykar Bhavan 322 Madhav Square, Opp 361001, Gujrat Avantika Complex, Limda Lane Road, Gujrat-361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (Appellant) (Respondent)
For Appellant: Shri Sagar Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 10(38)Section 115BSection 147Section 250Section 68
disallowed and accordingly total sale proceeds of Rs.3,28,81,890/- from the sale of scrips of 'PS IT Infrastructure &Services Ltd
(Formerly known as Parag Shilpa Investments Ltd) was assessed as unexplained cash credit u/s 68 of the I.T. Act and to be taxable at the rate of 30% as provided u/s 115BBE of the Act.
Nishant Parekh – Legal
