Itta/535/2014 Of Commissioner Of Income Tax-Iii v. P.r.gopala Krishna Reddy

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.535 of 2014 DATED:5.8.2014 Between:Commissioner of Income Tax-III,Hyderabad. And … Appellant P.R. Gopala Krishna Reddy,Hyderabad. ….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A.No.535 of 2014 Judgment :(per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) We dismiss the appeal as there is no element of law to bedecided in this case as the learned Tribunal on fact found that theassessee explained that the property at Mysore has beenpurchased by his grand son, Sri Sravan Kumar by taking a loanof Rs.25.00 lakhs from him. Further the amount ofRs.2,75,000/- has been taken for registration and stamp duty fromhis wife. These are reflected in the books of accounts andsubstantiated by the assessee. Therefore, the appeal is dismissed. Consequently, the miscellaneous applications, if anypending, shall also stand closed. No costs. __________________ K.J. SENGUPTA, CJ _________________ SANJAY KUMAR, 5[th] August, 2014 pnb J