IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.2459/Mum./2024 (Assessment Year : 2015–2016)

Income Tax Officer, Room No.854, Kautilya Bhavan, BKC, Bandra East, ……………. Appellant Mumbai – 400051.

v/s Sumitra Rajeshbhai Jain, B/31, 3^rd Floor Trimurti Park, Mamletdar Wadi Malad West, ……………. Respondent Mumbai – 400064.

PAN- AAIPJ0476F CO No.286/Mum./2024 (Arising Out of ITA 2459/Mum./2024)

(Assessment Year : 2015–2016)

Sumitra Rajeshbhai Jain, B/31, 3^rd Floor Trimurti Park, Mamletdar Wadi Malad West, ……………. Cross Objector Mumbai – 400064. (Original Respondent)

PAN- AAIPJ0476F v/s Income Tax Officer, Room No.854, Kautilya Bhavan, BKC, Bandra East, ……………. Respondent Mumbai – 400051 (Original Appellant)

Assessee by : Shri Prakash Jhunjhunwala Revenue by : Shri Pushkaraj Bhangepatil Sr. DR Date of Hearing – 01/01/2025 Date of Order – 06/03/2025 O R D E R PER SANDEEP SINGH KARHAIL, J.M.

The present appeal by the Revenue and Cross Objection by the assessee have been filed challenging the impugned order dated 12.03.2024, passed under section 250 of the Income Tax Act, 1961 ("the Act") by th