Itxa/2252/2011 Of The Commissiosner Of Income Tax -Iii Thane v. George Duming Andret

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2252 OF 2011 The Commissioner of Income Tax-III, Thane..Appellant.V/s.George Duming Andret..Respondent. Mr. Suresh Kumar, for the Appellant.None for the Respondent. P.C:- CORAM: J.P.DEVADHAR & M.S.SANKLECHA,JJ.DATE : 5[th] MARCH, 2013. Heard. 2In this Appeal by the Revenue for the Assessment Year 2005-06 following questions have been raised for our consideration:- (a)Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the period for which the asset was held by the previous owner is to be included in determining the period for which the asset was held by the assessee as provided in Explanation 1(b) to Section 2(42A) and this position is applicable even for working out the indexed cost of acquisition within the meaning of Explanation (iii) to Section 48? (b)Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in following the decision of the Special Bench in the case of DCIT v/s. Manjula J. Shah (2009) 126 TTJ (Mum) 145 (SB)? 3The issue raised in the present Appeal is covered by the decision of this Court in the matter of CIT v/s. Manjula J. Shah reported in 249 CTR 270 in favour of the Respondent-Assessee and against the Revenue. In that view of the matter, we see no reason to entertain the proposed question of law. 4Accordingly, appeal is dismissed with no order as to costs. (M.S.SANKLECHA,J.) (J.P.DEVADHAR,J.)