Itxa/903/2013 Of Director Of Income Tax (It) - Ii v. Shri Kumar Mahesh Pattani

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LOD) NO.1692 OF 2012 Director of Income Tax (IT)-II,Mumbai ..Appellant. V/s. Shri Kumar Mahesh Pattani ..Respondent. Mr. Tejveer Singh for the appellant.None for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 18TH FEBRUARY, 2013 P.C. :- 1.In the above appeal by the revenue for the assessment year 2007-08, the following question has been raised for our consideration:- “ Whether on the facts and the circumstances of the case and in law, the cost inflation indexation of the property taken by the AO for various years after which assessee inherited shares in property against cost of indexation taken by the assessee as on 1/4/1981 is correct if the right to hold properly divested on the assessee only after shares in the property were inherited ? 2.Counsel for the revenue fairly states that the issue arising in the present appeal is concluded in favour of the assessee against the revenue by the decision of the this Court in the matter of CIT V/s. Manjula J. Shah reported in (2012) 204 Taxman 691 (Bom). In view of the above, we see no reason to entertain the proposed question of law. 3.Accordingly, the appeal is dismissed with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)