Suken Suresh Mehta Vs. Income Tax Officer
Case No: ITA No.6771/Mum/2025
Court: Income Tax Appellate Tribunal 'G' Bench, Mumbai
Date: 1/14/2026
Parties Involved
AppellantSuken Suresh Mehta
RespondentIncome Tax Officer
Facts Summary
The assessee, Suken Suresh Mehta, acquired 18,443 sq.ft. of land in Coimbatore through a registered sale deed dated 28.08.1981. In 2013, he entered into a Joint Development Agreement (JDA) cum Memorandum of Understanding (MOU) with Elysium Properties India Pvt. Ltd. for jointly developing a property named ‘Elysium The Address’. Under the agreement, the assessee assigned rights in the undivided land proportionate to 45% of the constructed area to the developer, who agreed to construct the residen…
Decision in favour of
Assessee
Legal Issues
- 1. Disallowance of Rs.39,80,263/- claimed towards indexed cost of acquisition of land.
- 2. Disallowance of Rs.1,44,55,200/- claimed towards indexed cost of acquisition of the rights of constructed area.
Precedents Relied Upon
5 precedents cited in this judgement.