DUSHYANT BHARATBHAI MEHTA,RAJKOT vs. ITO WD-(2)(1)(2) , RAJKOT
In the result, appeal filed by the assessee, is allowed
ITA 422/RJT/2024[2015-2016]Status: DisposedITAT Rajkot30 Jun 2025AY 2015-2016
Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपीलसं./Ita No.422/Rjt/2024 (निर्धारणवर्ष / Assessment Year: (2015-16) Dushyant Bharatbhai Mehta (Physical Hearing) C/O Bhabha Fashions 34/35 Bhabha Bazzar, Ghee Kanta Road, Vs. The Ito, Ward -2(1)(2), Aaykar Bhawan, Rajkot Rajkot 360001 (Gujarat) स्थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahgpm4763P (Assessee) (Respondent) Assessee By Respondent By : Shri Vijay Mehta, Ld. Ar : Shri Abhimanyu Singh, Yadav, Ld. Sr. Dr Date Of Hearing : 01/05/2025 Date Of Pronouncement : 30/06/2025 आदेश / Order Per, Dr. A. L. Saini, Am: By Way Of This Appeal, The Assessee Has Challenged Correctness Of The Order Dated 27-05-2024 Passed By The Learned Cit(A), In The Matter Of Assessment Under Section 143(3) Of The Income Tax Act 1961, For The
For Respondent: Shri Vijay Mehta, Ld. AR
Section 142(1)Section 143(1)Section 143(3)Section 54Section 54BSection 54F
section 45(2) of the
Act, provides that although such a conversion of capital assets into stock- in-
trade of a business, carried on by the assessee, will be a transfer in the previous
year, in which the assets is so converted, but actual capital gain will not arise in
the previous year in which assets is converted into stock
