ITA No.6816/Mum/2025; Avani Azad Parikh, Mumbai
Case No: ITA No.6816/Mum/2025
Court: Income Tax Appellate Tribunal, 'A' Bench, Mumbai
Date: 1/6/2026
Parties Involved
AppellantRevenue
RespondentAvani Azad Parikh
Facts Summary
The assessee, Avani Azad Parikh, was a 50% shareholder in a residential flat at Skylark Cooperative Housing Society Ltd., along with her son, Mr. Sujan Azad Parikh. The rights in the property were transferred by issuing share certificates to each of them. The assessee sold her 50% share in the flat to Ms. Enakshi Sujan Parikh in 2007 and offered the resulting long-term capital gain to tax in A.Y 2008-09. Later, Mr. Sujan Azad Parikh and Ms. Enakshi Sujan Parikh sold the flat in July 2014 for Rs.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(A) erred in deleting the addition made of Rs. 7,25,08,820/- u/s 143(3) r.w.s. 147 of the Act, without appreciating that the assessee failed to substantiate her claim with documentary evidences.
- 2. Whether the Ld. CIT(A) erred in not treating the appellant as the owner of 50% right in the residential flat with SkyLark Co-op Hsg. Society Ltd. despite the assessee failing to submit documentary evidences in support of her claim.
4 more legal issues analysed in this judgement.
Precedents Relied Upon
4 precedents cited in this judgement.