FLEURETTE HATAM, MUMBAI V. ITO (IT) RG 3(1), MUMBAI

ITA 443/MUM/2010

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 3450 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-12-2010
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: F
• Next Hearing Date: 28-10-2010
• Assessment Year: 2006-2007
• Appeal Filed On: 18-01-2010
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SUM EET KUMAR
• Assessee Lawyers: RONAK G DOSHI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH F, MUMBAI BEFORE SHRI S.V. MEHROTRA , ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER I.T.A.NO. 443/MUM/2010 ASSESSMENT YEAR : 2006-07 MS. FLEURETTE HATAM, C/O. M/S. CHAITRA HOLDINGS PVT. LTD., A-101, VINTAGE PEARL, 29 TH ROAD, BANDRA (W), MUMBAI 400 050. PAN: ABLPH 8218 H VS. THE INCOME-TAX OFFICER (INTERNATIONAL TAXATION), RANGE 3(1), MUMBAI (APPELLANT) (RESPONDENT) I.T.A.NO. 1146/MUM/2010 ASSESSMENT YEAR : 2006-07 THE INCOME-TAX OFFICER (INTERNATIONAL TAXATION), RANGE 3(1), MUMBAI VS. MS. FLEURETTE HATAM, C/O. M/S. CHAITRA HOLDINGS PVT. LTD., A-101, VINTAGE PEARL, 29 TH ROAD, BANDRA (W), MUMBAI 400 050. PAN: ABLPH 8218 H (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI RONAK G. DOSHI REVENUE BY : SHRI SUMEET KUMAR O R D E R PER S.V. MEHROTRA, AM: THESE CROSS APPEALS BY THE ASSESSEE AND THE REVENU E ARE DIRECTED AGAINST THE IMPUGNED ORDER DATED 15.11.2009, PASSED BY THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS)-10, MUMBAI, FOR THE ASSESSMENT YEAR 2006-07. 2. THE ASSESSEE HAD FILED HER RETURN OF INCOME DECL ARING TOTAL INCOME OF RS. 20,52,030/-. THE A.O. NOTICED THAT ASSESSEE HAD CL AIMED LONG TERM CAPITAL LOSS AS UNDER: (A) LOSS ON ACCOUNT OF SALE OF SHARES OF EVA N ELECTRIC PVT. LTD. (1,36,46,875) (B) GAIN ON ACCOUNT OF SALE OF HOUSE PROPERTY (PLOT A & B) 90,85,880 -------------- (46,60,995)