ITO, Ward-29(3), Kolkata, Kolkata V. Smt. Indrani Basu Mallick, Kolkata

ITA 1926/KOL/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8762 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 7 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 29-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C J SINGH
• Assessee Lawyers: SOUMITRA CHOUDHURY RESPO
• Keywords: Capital asset
• Section: 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, KOLKATA BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER & SRI S.S. GODARA, JUDICIAL MEMBER I.T.A. NO.1926/KOL/2017 (ASSESSMENT YEAR: 2013-14) ITO, WARD-9(1), KOLKATA............... APPELLANT VS. SMT. INDRANI BASU MALLICK................ ..........................................RESPONDENT [PAN : AMPPB 8059 H ] APPEARANCES BY: SHRI C. J. SINGH, SR. DR, APPEARING ON BEHALF OF THE APPELLANT. SHRI SOUMITRA CHOUDHURY, ADVOCATE, APPEARING ON BEHALF OF THE RESPONDENT. DATE OF CONCLUDING THE HEARING : FEBRUARY 18 TH , 2019 DATE OF PRONOUNCING THE ORDER : APRIL 3 RD ,2019 O R D E R PER J. SUDHAKAR REDDY :- THIS APPEAL BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 8, KOLKATA (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DATED 13.06.2017. 2. AFTER HEARING RIVAL CONTENTIONS, WE FIND THAT THE LD. FIRST APPELLATE TRIBUNAL APPLIED THE JUDGMENT OF BOMBAY HIGH COURT IN THE CASE OF CIT VS. MANJULA J. SHAH; [IT APPEAL NO.3378 OF 2010] 16 TAXMANN 42 (BOM) AND HELD THAT WHERE THE CAPITAL ASSET BECAME THE PROPERTY OF THE ASSESSEE IN THE CIRCUMSTANCES MENTIONED IN SUB-SECTION 1 OF SECTION 49 OF THE ACT, THERE SHALL BE INCLUDED THE PERIOD FOR WHICH THE ASSET WAS HELD BY THE PREVIOUS OWNER REFERRED TO IN THE SAID SECTION FOR THE PURPOSE OF CALCULATING THE PERIOD OF HOLDING OF THE ASSET BY THE ASSESSEE FOR THE PURPOSE OF COMPUTING OF CAPITAL GAIN AND GRANTED RELIEF. THE ASSESSEE, IN THIS CASE, ACQUIRED THE PROPERTY THROUGH WILL AND SUCCESSION. HENCE, THE DATE OF ACQUISITION OF PREVIOUS OWNER SHALL BE THE DATE OF ACQUISITION OF THE ASSET BY THE ASSESSEE AND INDEXATION WILL BE AVAILABLE FROM THAT DATE. 2 I.T.A. NO.1926/KOL/2017 ASSESSMENT YEAR: 2013-14 THUS, WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE LD. CIT(A). HENCE, WE DISMISS THE APPEAL OF THE REVENUE. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. KOLKATA, THE 3 RD APRIL, 2019. SD/- SD/- [ S.S. GODARA ] [J. SUDHAKAR REDDY] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 03.04.2019 (RS, SR. PS) COPY OF THE ORDER FORWARDED TO: 1. ITO, WARD-9(1), KOLKATA 2. SMT. INDRANI BASU MALLICK, 1/1 LAKE AVENUE, KOLKATA 700 026. 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES