Itxa/437/2002 Of Jagdish C.malhotra v. The Assistant Commercial Of Income Tax And Anr

IN THE HIGH COURT OF JUDICATURE AT BOMBAYO.O.C.J. INCOME TAX APPEAL NO.437 OF 2002 Jagdish Chandra Malhotra (HUF).. Appellant v/s.1. The Assistant Commissioner ofIncome-tax, Circle 9(3), Mumbai & anr.... Respondents Mr.J.D.Mestry i/by M/s.Mahendra Patel & Associatesfor appellant. Mr.Vijay Kantharia i/by Mr.P.Kapur for respondents. P.C. Heard. CORAM: R.M.LODHA ANDJ.P.DEVADHAR, JJ. DATED:17thSeptember, 2004 2. The assessee had a flat at Delhi. He enteredinto an agreement dated 17.4.1986 for sale of thesaid flat for a consideration of Rs.45,00,000/-.The assessee received a sum of Rs.30,00,000/- onthe date of execution of the agreement viz.17.9.1986 and handed over possession to thepurchaser. The conveyance was agreed to beexecuted subsequently and balance consideration ofRs.15,00,000/- was to be paid by the purchaser tothe assessee at the time of registration of theconveyance deed. The balance payment ofRs.15,00,000/- was received by the assessee on 1988-89. counsel for the appellant has no application to the 6. The view of the Tribunal is not vitiated by anylegal infirmity. 7. No substantial question of law arises in this appeal. Hence, dismissed in limine. (R.M.LODHA, J.) (J.P. DEVADHAR, J.)