Kavitha, L/H of S.Shanmugam (Late), CHENNAI V. ITO, CHENNAI

MA 18/CHNY/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6401 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-04-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 22-01-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MRS S VIJAYA PRABHA
• Assessee Lawyers: G BASKAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI . , , ! ' BEFORE SHRI ABRAHAM P GEORGE, ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, JUDICIAL MEMBER MISCELLANEOUS PETITION NO. 17 / CHNY /201 8 (IN ITA NO.1104/CHNY/2017) /ASSESSMENT YEAR: 2013-14 MRS.PADMA, L/H OF S.SHANMUGAM (LATE), FLAT NO.3D, YESES SQUARE, NO.84, GREENWAYS ROAD, R.A.PURAM, CHENNAI-600 028. [PAN: AACPP 2749 R] VS. THE INCOME TAX OFFICER, CORPORATE WARD-3(3), CHENNAI-600 034 ( % /APPELLANT) ( &'% /RESPONDENT) MISCELLANEOUS PETITION NO. 18 /C HNY/201 8 (IN ITA NO.1105/CHNY/2017) /ASSESSMENT YEAR: 2013-14 MRS.KAVITHA, L/H OF S.SHANMUGAM (LATE), NO.113, DR.ALAGAPPA ROAD, PURASAWALKKAM, CHENNAI-600 084. [PAN: AACPK 5957 K] VS. THE INCOME TAX OFFICER, CORPORATE WARD-3(3), CHENNAI-600 034. ( % /APPELLANT) ( &'% /RESPONDENT) % ( / APPELLANT BY : MR. G.BASKAR, ADV. &'% ( /RESPONDENT BY : MRS.S.VIJAYAPRABHA, JCIT ( /DATE OF HEARING : 13.04.2018 ( /DATE OF PRONOUNCEMENT : 13.04.2018 MP NO.17/CHNY/2018 (IN ITA NO.1104/CHNY/2017) MP NO.18/CHNY/2018 (IN ITA NO.1105/CHNY/2017) :- 2 -: / O R D E R PER GEORGE MATHAN , JUDICIAL MEMBER : THESE ARE THE MISCELLANEOUS PETITIONS FILED BY THE ASSESSEES IN ITA NOS.1104 & 1105/CHNY/2017 FOR THE AY 2013-14. 2. MRS. S. VIJAYAPRABHA, JCIT, REPRESENTED ON BEHAL F OF THE REVENUE AND MR.G.BASKAR, ADV., REPRESENTED ON BEHALF OF THE ASSESSEES. 3. IT WAS SUBMITTED BY THE LD.AR THAT IN THE ORDER OF THE TRIBUNAL, THE TRIBUNAL HAD NOT ADJUDICATED GROUND NO.6 REGARDING THE COMPUTATION OF LONG TERM CAPITAL GAINS BY THE AO. IT WAS A SUBMIS SION THAT THE ORDER OF THE TRIBUNAL WAS LIABLE TO BE RECALLED. 4. IN REPLY, THE LD.DR SUBMITTED THAT THE TRIBUNAL HAS ADJUDICATED THE GROUND IN SO FAR AS THE TRIBUNAL HAS DIRECTED THE A O TO GRANT THE BENEFIT OF THE COST OF IMPROVEMENT REPRESENTING THE SETTLEMENT OF THE BANK LIABILITY THROUGH ONE TIME SETTLEMENT WHEN COMPUTING LONG TER M CAPITAL GAINS IN THE HANDS OF THE ASSESSEE. IT WAS A FURTHER SUBMIS SION THAT THE TRIBUNAL HAD FURTHER DIRECTED THAT THE SETTLEMENT OF THE TAX LIABILITY OF SHRI S.SHANMUGAM FROM THE SALE CONSIDERATION OF THE PROP ERTY INHERITED BY THE ASSESSEE FROM SHRI S.SHANMUGAM CANNOT BE CONSIDERED AS COST OF IMPROVEMENT FOR THE PURPOSE OF COMPUTING THE CAPITA L GAINS. IT WAS A MP NO.17/CHNY/2018 (IN ITA NO.1104/CHNY/2017) MP NO.18/CHNY/2018 (IN ITA NO.1105/CHNY/2017) :- 3 -: SUBMISSION THAT THE GROUNDS HAVING BEEN ADJUDICATED AND NO ERROR HAVING BEEN POINTED OUT, THE PRAYER OF THE ASSESSEE WAS IN EFFECT FOR A REVIEW OF THE ORDER OF THE TRIBUNAL, WHICH IS NOT PERMISSIBLE . 5. AS IT IS NOTICED THAT THE ISSUE OF THE COMPUTATI ON OF CAPITAL GAINS AS ARGUED BY THE ASSESSEE HAVING BEEN CONSIDERED BY TH E TRIBUNAL AND NO SPECIFIC ERROR HAVING BEEN POINTED OUT IN THE ORDER OF THE TRIBUNAL, THE MISCELLANEOUS PETITIONS FILED BY THE ASSESSEES ARE UNSUSTAINABLE AND CONSEQUENTLY, DISMISSED. 6. IN THE RESULT, THE MISCELLANEOUS PETITIONS FILE D BY THE ASSESSEES ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON APRIL 13, 20 18 AT CHENNAI. SD/- SD/- ( . ) ( ABRAHAM P GEORGE ) ! /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) ! /JUDICIAL MEMBER /CHENNAI, 0 /DATED: APRIL 13, 2018. TLN ( &23 43 /COPY TO: 1. % /APPELLANT 4. 5 /CIT 2. &'% /RESPONDENT 5. 3 & /DR 3. 5 ( ) /CIT(A) 6. /GF