Itxa/784/2013 Of The Commissioner Of Income Tax- Iii, Pune v. M/S Kasturi Builders

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LOD) NO.1901 OF 2012 The Commissioner of Income Tax-III, Pune ..Appellant. V/s. M/s. Kasturi Builders ..Respondent. Mr Tejveer Singh. for the appellant. None for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ.DATED : 7TH FEBRUARY, 2013 P.C. :- 1. Heard. Admit on the following substantial question of law:- “ Whether the Tribunal is justified in not appreciating the fact that SRPL had executed a PoA on 31/8/2006 in favour of the assessee wherein it is clearly stipulated that the TDR is sold to the assessee for a consideration of Rs.96,25,000/- for which the payment was made on 19/4/2006 and the assessee was bound by the contract ? After recording the facts the Tribunal has allowed the claim of the respondents-assessee by relying upon the decision of this Court in the matter of CIT V/s. Indo Saudi Services (Travels) P. Ltd. reported in [2009] 310 ITR 306 (Bom). Counsel for the revenue is unable to disinguish the applicability of the aforesaid judgment judgment to the facts of the present case. In view of the above, we see no reason to entertain the appeal. 3.The appeal is dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)