9911796707
TMI Blog2014 (6) TMI 428X X X X Extracts X X X X X X X X Extracts X X X X ..... . Parag Parikh Financial Advisory Services Ltd. Versus ITO -4(2) (1), Mumbai [2014 (2) TMI 686 - ITAT MUMBAI] - the shares are deemed to be acquired on the date of acquisition of ‘BSE Card’ and not from the date of their conversion - the cost of acquisition of ‘BSE card’ shall be the cost of acquisition of BSE shares and the shares are deemed to be acquired on the date of acquisition of ‘BSE card’ and not from the date of their conversion - the date of holding/acquisition of an asset being equity shares allotted pursuant to demutualization or corporatization of a recognized stock exchange will be the date of acquisition of original ‘BSE card’ – thus, the order of the CIT(A) is set aside – Decided in favour of Assessee. - ITA No. 1472/Mum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is correctly mad eby AO. Thus, disallowance out of repairs maintenance on building will be restricted to Rs.15,50,790/- and appellant will be entitled to depreciation as decided by AO. Accordingly, other disallowance is confirmed. In the result, this ground of appeal is partly allowed Reading the above paragraph of the impugned order, Ld. counsel demonstrated that the sum of Rs.15,50,790/- was confirmed. Further, he also mentioned that other disallowance is also confirmed. It is not clear as to which other disallowance is confirmed. As per Ld. Counsel, what is finally deleted or confirmed is not clear from the said paragraph above. 4. Further bringing our attention to the appeal of the revenue, the counsel read out the ground no.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame for adjudication. According to the said decision, the shares are deemed to be acquired on the date of acquisition of BSE Card and not from the date of their conversion. In this regard, ld. Counsel for the assessee brought our attention to the para 10 of the said order of the Tribunal (supra) we perused the same and para 10 reads as under:- So from the above stated express provisions, it is clear that the cost of acquisition of BSE card shall be the cost of acquisition of BSE shares and the shares are deemed to be acquired on the date of acquisition of BSE card and not from the date of their conversion. Hence, the date of holding/acquisition of an asset being equity shares allotted pursuant to demutualization or corporatization ..... X X X X Extracts X X X X X X X X Extracts X X X X
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