IN THE INCOME TAX APPELLATE TRIBUNAL “H(SMC)” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.319/MUM/2026 (Assessment Year : 2016-17)

Tulsidas Virji Chothani, 601, 6^th Floor, Shantrunjay Building, Neelkanth Valley, Ghatkopar East, Mumbai - 400077 ............... Appellant PAN: AABPC0337M v/s Income Tax Officer, Ward-27(3)(1)

IT-Office, Vasi Railway Station Building, ……………… Respondent Navi Mumbai - 400703 Assessee by : Shri Mehul Shah Revenue by : Shri Pravin Salunkhe, Sr. DR Date of Hearing – 26/02/2026 Date of Order - 04/03/2026

O R D E R

PER SANDEEP SINGH KARHAIL, J.M.

The assessee has filed the present appeal against the impugned order dated 25/09/2025, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Additional/Joint Commissioner of Income Tax (Appeals)-1, Gurugram, [“learned Addl./Joint CIT(A)”], for the assessment year 2016-17.

2. In the appeal, the assessee has raised the following grounds: -

“Being aggrieved by the order of the Assessing Officer, 27(3) - 4, Mumbai and learned Commissioner of Income-tax (Appeal), NFAC Delhi, this appeal petition is filed on the following amongst othe