MANISHA AJAY SHAH, MUMBAI vs PR. CIT 30, MUMBAI

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Last updated: 30 November 2020
Quick Summary
This case involves an appeal by Mrs. Manisha Ajay Shah against an order by the Principal Commissioner of Income Tax (PCIT) under section 263 of the Income Tax Act. The PCIT questioned the assessee's declaration of long-term capital gains (LTCG) under the Income Declaration Scheme 2016, arguing the gross sale price should have been declared. Mrs. Shah contended that only the profit element is taxable, not the gross sale price, and provided documentation to support the genuine nature of the share transaction.

Court :
ITAT Mumbai

Brief :
This appeal by the assessee is directed against the order of Principal Commissioner of Income Tax -30, Mumbai ( in short ‘the PCIT”) dated 07/03/2019 passed under section 263 of the Income Tax Act, 1961 (herein after referred to as ‘the Act’).

Citation :
ITA NO. 3001/MUM/2019 (A.Y.2015-16)

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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