K.R.SHRIRAM, N.J.JAMADAR
Rohan Developers Pvt. Ltd. – Appellant
Versus
Income-tax Officer (International Taxation)-3(1) – Respondent
JUDGMENT :
K. R. Shriram, J.
1. Petitioner is a company engaged in the business of development and re-development of various properties in the city of Mumbai. One Mrs. Dolly Jehangir Gazdar held an undivided ½ (one half) share in a piece of land admeasuring about 8071.64 square yards situated at Dr. Ambedkar Road (Sopari Baug Road) with the buildings standing thereon in Parel Sewri Division in BMC F/South Ward, Mumbai from the year 1972. The other ½ (one half) share in the said property belonged to her brother one Mr. Meherwan Nadirshaw.
2. Mrs. Dolly Jehangir Gazdar expired on 10th June 1982 leaving her last Will and Testament dated 20th June 1979. The Probate of her Will was granted by the Bombay High Court on 5th November 2004. Under the said Will, she had bequeathed her share in the said property to her aunt - Mrs. Rhoda Rustom Framjee and her brother - Mr. Meherwan Nadirshaw in equal shares. Accordingly, the undivided 1/4th share in the said property vested in Mrs. Rhoda Rustom Framjee from the year 1982. Mrs. Rhoda Rustom Framjee expired on 12th May 1992 leaving her last W
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