Decided On 17.12.2007 In The Case Otincome Tax Officer v. R. Sathyanarayana, The Question Of Law Framed By This

IN THE HIGH COURT OF KARNATAKA, BANGALORE DATED THIS THR 12 DAY OF SEPTEMBER, 2012 PRESENT THR HON BLE MR. JUSTICE K.SREEDHAR RAO ANT THR HON'BLE MR. JUSTICK B.MANOHAR 1.T.A. No.891 OF 2008 BBRITIWE 1.The Commissioner of Income Tax,C.R. Building,Queens Road,Bangalore. ooThe Income Tax Officer,Ward-4(3),C.R. Building,Queens Road,Bangalore. (By Sri K.V. Aravind, Advocate) Appellants AND: sri G.V. Guru Prasad,‘Prasada’,No.53-C, 32[&.]Main,=[6 ]Cross, I Phase,J.P. Nagar,Bangalore-560078. (By Sri A. Shankar and Sri M. Lava, Advocates) Respondent This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arisingOUT|OT|orderdated09.05.2008passed$&I.T.A.No.1121/BNG/2007 for the Assessment Year 2004-2005, praying that this Hon’ble Court may be pleased to(i) formulate the substantial questions of law stated thereinand (11) allow the appeal and set-aside the order of the ITAT,Bangalore in ITA No.1121/BNG/2007 dated 09.05.2008confirm the orders of the Appellate Commissioner andconfirm the order passed by the Income Tax Officer, Ward-4(3), Bangalore, in the interest of justice and equity. This appeal is coming on for final hearing this day,SREEDHAR RAO, J.,delivered the following: JU DBGMENT In view of the decision of this Court in ITA No.25/2001 decided on 17.12.2007 in the case ot|Income Tax Officer Vs. R. Sathyanarayana, the question of law framed by this Court while admitting the appeal which reads thus: 'Whether the Tribunal was justified inholding the capital gains arising out of sale ofresidential house of the respondent-assessee asa long-term capital gains?( has been answered against the revenue. Accordingly, this appeal is dismissed. od/-JUDGE NM* od/-JUDGE