Kummathi Rameswara Reddy, CHENNAI V. DCIT Non Corporate Circle 17, CHENNAI

ITA 1263/CHNY/2018

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6907 (ITAT-CHENNAI)
• Duration Of Justice: 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-03-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 16-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: M SUBASREE
• Assessee Lawyers: N V BALAJI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI . . . , . !', $ '% BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ ITA NO.1263/CHNY/2018 ' (' / ASSESSMENT YEAR : 2014-15 SHRI KUMMATHI RAMESWARA REDDY, FLAT 6, VISWARETHA APARTMENT, OLD NO.28, NEW NO.16, 7 TH CROSS STREET, SHASTRI NAGAR, ADYAR, CHENNAI - 600 020. PAN : AASPR 9595 D V. THE DEPUTY COMMISSIONER OF INCOME TAX, NON-CORPORATE CIRCLE 17, CHENNAI. (*+/ APPELLANT) (,-*+/ RESPONDENT) *+ . / / APPELLANT BY : SHRI N.V. BALAJI, ADVOCATE ,-*+ . / / RESPONDENT BY : MS. M. SUBASREE, JCIT 0 . 1$ / DATE OF HEARING : 14.02.2019 23( . 1$ / DATE OF PRONOUNCEMENT : 01.03.2019 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER : THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) -5, CHENNA I, DATED 06.02.2018 AND PERTAINS TO ASSESSMENT YEAR 2014-15. 2. SHRI N.V. BALAJI, THE LD.COUNSEL FOR THE ASSESSE E, SUBMITTED THAT THE SAME ISSUE CAME FOR CONSIDERATION IN THE A SSESSEE'S OWN 2 I.T.A. NO.1263/CHNY/18 CASE FOR THE ASSESSMENT YEAR 2011-12 AND THIS WAS E XAMINED BY THIS TRIBUNAL ELABORATELY IN I.T.A. NOS.335 & 209/M DS/2016. THIS TRIBUNAL BY AN ORDER DATED 05.05.2016, DECIDED THE ISSUE AGAINST THE ASSESSEE. ACCORDING TO THE LD. COUNSEL, THE CI T(APPEALS), IN FACT HAS FOLLOWED THE ORDER OF THIS TRIBUNAL. 3. WE HEARD MS. M. SUBASREE, THE LD. DEPARTMENTAL REPRESENTATIVE ALSO. ADMITTEDLY, THE ISSUE ARISES FOR CONSIDERATION IS WITH REGARD TO STOCK APPRECIATION RIGHT. IN THE ASSESSEE'S OWN CASE FOR ASSESSMENT YEARS 2011-12 AND 2012-13 IN I. T.A. NOS.335 AND 209/MDS/2016, THIS TRIBUNAL EXAMINED THE ISSUE AND FOUND THAT THE STOCK APPRECIATION RIGHT WAS VESTED IN INDIA, T HEREFORE, IT IS TAXABLE IN INDIA. THE CIT(APPEALS) HAS FOLLOWED TH E ORDER OF THIS TRIBUNAL. THEREFORE, FOR THE REASON STATED BY THIS TRIBUNAL FOR ASSESSMENT YEARS 2011-12 AND 2012-13 IN I.T.A. NOS. 335 & 209/MDS/2016 DATED 05.05.2016, THE ORDER OF THE CIT (APPEALS) IS CONFIRMED. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. 3 I.T.A. NO.1263/CHNY/18 ORDER PRONOUNCED IN THE COURT ON 1 ST MARCH, 2019 AT CHENNAI. SD/- SD/- (. !') ( . . . ) (S. JAYARAMAN) (N.R.S. GANESAN) $ / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 5 /DATED, THE 1 ST MARCH, 2019. KRI. . ,167 87(1 /COPY TO: 1. *+/ APPELLANT 2. ,-*+/ RESPONDENT 3. 0 91 () /CIT(A)- 5, CHENNAI-34 4. PRINCIPAL CIT-9, CHENNAI 5. 7: ,1 /DR 6. ' ; /GF.