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TMI Blog2017 (2) TMI 1017X X X X Extracts X X X X X X X X Extracts X X X X ..... - Dated:- 6-1-2017 - Shri D. Karunakara Rao, AM And Shri Amarjit Singh, JM Assessee by : Shri G. P. Mehta Department by : Shri B. Satyanarayana Raju ORDER Per Amarjit Singh, JM The assessee has filed the present appeal against the order dated 11.07.2012 passed by the Commissioner of Income Tax (Appeals)-33, Mumbai [hereinafter referred to as the CIT(A) ] relevant to the A.Y.2009- 10. 2. The assessee has raised the following grounds:- 1. On the facts and circumstances of the case the Hon.CIT(A) erred in treating gain on sale of rights in immovable property as STCG instead of LTCG. Thereby converting the LTCG of ₹ 2,46,33,724/- offered by the assessee into STCG of ₹ 3,17,31,060/- She failed to und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 Ashok Tower Property 2,89,01,925 2 Ashok Garden Property 46,44,500 3,35,46,425 Short Term Capital Gains 1 Orlov Properties 9,00,000 2 Durshit Property 3,00,000 12,00,000 Short Term Capital Gains on mutual funds 4,63,303 Total 3,52,09,728 4. The assessee considered the first inst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2005 and date of sale of the flat is 1st May 2008. In support of these contentions the learned representative of the assessee has placed reliance upon the law settled in Madhu Kaul Vs Commissioner of Income Tax and Another settled by the Hon ble Punjab and Haryana High Court and the ITO 8(3)(1) Vs. Shangrila Golf Health Resorts Pvt. Ltd. settled by the Hon ble Income Tax Appellate Tribunal, Mumbai bench and (2016) 70 (I) ITCL 162 (Bom-HC) settled by the Hon ble Bombay High Court in case titled as Commissioner of Income Tax Vs. Girish L. Ragha. However, on the other hand the learned departmental representative has placed reliance upon the order passed by the CIT(A) in question. By giving the careful thoughts to the argument advanced by th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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