VENCHUSE ELIES DEMELLO, V. ACIT, CIR-2,

MA 71/MUM/2015

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 3265 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 10-07-2015
• Appeal Filed By: Assessee
• Bench Allotted: F
• Assessment Year: 2006-2007
• Appeal Filed On: 13-03-2015
• Court: TRIBUNAL
• Department Lawyers: AKHILENDRA YADAV
• Assessee Lawyers: HITESH M SHAH

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL F , BENCH MUMBAI . . , . . , BEFORE SHRI A. D. JAIN, JM & SHRI R.C.SHARMA , A M MISCELLANEOUS APPLICATION NO. 7 1 / MUM/20 1 5 (ARISING OUT OF ITA NO . 7077 /MUM/201 1 ) ( / ASSESSMENT YEAR : 200 6 - 20 0 7 ) VENCHURE ELIES DEMELLO ROSY VILLA, 2 ND FLOOR, GARDEN ROAD, BAKUL STREET, BHAYANDER (WEST), THANE VS. ACIT - 2, QUREHI CHAMBERS, THANE ./ ./ PAN/GIR NO. : A K BPD 0918 K ( / APPELLANT ) .. ( / RESPONDENT ) /ASSESSEE BY : SHRI HITESH M. SHAH /REVENUE BY : SHRI AKHILENDRA YADAV / DATE OF HEARING : 10 TH JULY, 2015 / DATE OF PRONOUNCEMENT : 10 TH JULY, 2015 / O R D E R PER R.C.SHARMA ( A .M.) : TH IS MISCELLANEOUS APPLICATION IS FILED BY THE ASSESSEE ARISING OUT OF ORDER DATED 19 - 10 - 2011 , PASSED BY THE TRIBUNAL IN ITA N O. 7077 /MUM/2011. 2 . THROUGH THIS APPLICATION IT WAS CONTENDED BY THE LD. AR THAT BEING THE CO - OWNER OF THE SAME PROPERTY FOR WHICH THE TAXATION OF CAPITAL GAINS IS THE SUBJECT MATTER AND FACTS AND CIRCUMSTANCES OF THE CASE ARE NOT ONLY SIMILAR BUT ARE REL ATED ALSO IN THE CASE OF OTHER CO - OWNERS. THE ITAT IN THE CASE OF BONY ELIES DMELLO (ITA NO.7870/MUM/2010, DATED 5.4.2013) AND IN THE CASE OF ROSY ELIES DMELLO (ITA NO.7076/MUM/2011, DATED 7 - 8 - 2013) HAS DECIDED IN FAVOUR OF THE ASSESSEE. THE SAID FAVOURAB LE JUDICIAL M A NO. 7 1 /20 1 5 2 PRONOUNCEMENTS IN CO - OWNERS CASE WILL GO A LONG WAY TO REDUCE THE TAXABLE LONG TERM CAPITAL GAINS AND THEREFORE CONSEQUENTLY DEMAND ALSO. ACCORDINGLY, IT WAS PRAYED THAT ORDER PASSED BY THE TRIBUNAL MAY BE RECALLED. 3. WE HAVE GONE THROUGH THE ORDER PASSED BY THE TRIBUNAL, DATED 19 - 10 - 2011 AND ALSO THE RECTIFICATION APPLICATION. WE FOUND THAT THE TRIBUNAL HAS DEALT WITH THE ISSUE THREADBARE AND UPHELD THE COMPUTATION OF CAPITAL GAINS ADOPTING THE VALUE AS ON 1 - 4 - 1981 AS PER DVOS REPORT. THERE I S NO MISTAKE MUCH LESS AN APPARENT MISTAKE IN THE ORDER PASSED BY THE TRIBUNAL. 4 . IN THE RESULT, MISCELLANEOUS APPLICATION OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 10 TH JULY, 2015 10 /07/2015 SD/ - SD/ - ( . . ) ( A.D.JAIN ) ( . . ) ( R.C.SHARMA ) JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 10 /07/2015 . . /PKM , . / PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, ( ASSTT. REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. //TRUE COPY//