Case Law Details
Case Name : Siddharth Bhaskar Shah Vs PCIT (ITAT Mumbai)
Related Assessment Year : 2021-22
Courts :
All ITAT ITAT Mumbai
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Siddharth Bhaskar Shah Vs PCIT (ITAT Mumbai)
ITAT Mumbai Quashes 263 Revision – Six Flats as Triplex Held One House Under Sec.54F- Purchase of Interconnected Units Qualifies as Single Residence – Tribunal Favors Assessee
ITAT Mumbai allowed assessee’s appeal & quashed revisionary proceedings u/s 263. Tribunal held that AO had made detailed enquiries before allowing deduction u/s 54F on investment in a triplex flat comprising six interconnected units & hence PCIT could not revise the order merely on a change of opinion.
Assessee had sold unquoted shares for Rs.17.78 crore & cl...
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Very good notification