Itxa/807/2013 Of The Commissioner Of Income Tax Central-Ii v. M/S. Unique Estate Development Co. Ltd

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL(LOD) NO.1516 OF 2012 The Commissioner of Income Tax, Central II, Mumbai ..Appellant. V/s. M/s. Unique Estate Development Co. Ltd. ..Respondent. Mr. A.R. Malhotra for the appellant. Mr. Sanjay Sawant for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 28TH JANUARY, 2013 P.C. :- 1.The revenue has raised the following question for the consideration of this Court :- “ Whether on the facts and circumstances of the case and in law, the Tribunal was right, in holding that income from sale of flats under consideration was not chargeable to tax even though the entire sale proceeds including possession money was received during the year, merely because the physical possession was handed over subsequently by following its earlier orders in the same case for AY's 1999-2000,2001-02 and 2002-03 ?” 2.It is agreed by counsel for both the sides that the issue raised in the above appeal is covered against the revenue and in favour of the assessee by the order of this Court in the assessee's own case being Income Tax Appeal No.4767 of 2010 rendered on 6[th ]March, 2012. In view of the above, we see no reason to entertain the present appeal and the same is dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)