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Section 50B Capital Gain Addition Deleted as Slump Sale Already Taxed: ITAT Mumbai
Case Law Details
- Case Name
- Crescent Steels Vs Assessment Unit Income Tax Department (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Mumbai
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Crescent Steels Vs Assessment Unit Income Tax Department (ITAT Mumbai)
The Income Tax Appellate Tribunal, Mumbai, considered the assessee’s appeal against the order of the National Faceless Appeal Centre dated 17.10.2025 arising from a reassessment order passed under Sections 147 read with 144B of the Income-tax Act, 1961 for Assessment Year 2016-17. The principal dispute concerned the addition of ₹47,67,310 as long-term capital gain on sale of immovable property at Bhiwandi.
The Assessing Officer found that during the relevant year the assessee had sold immovable property for ₹58,20...
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