The Commissioner Of Income Tax, Central – Ii, Mumbai v. M/S.unique Estate Development Company Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.58 OF 2013 The Commissioner of Income Tax, Central – II, Mumbai..Appellant. Versus M/s.Unique Estate Development Company Limited..Respondent. Mr.A.R. Malhotra with Ms.Padma Divakar for the appellant.Mr.Sanjay Sawant for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 3[rd] April 2013 P.C. : 1.In this appeal by the Revenue for assessment year 2006-07, following question of law has been proposed for our consideration. “Whether, on the facts 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 possessioni was handed over subsequently by following its earlier orders in the same case for assessment years 1999-2000, 2001-02 and 2002-03 ?” 2.Counsel for the parties are agreed that the issue arising herein is covered in favour of the respondent – assessee and against the Revenue by the decision of this Court dated 28[th] January 2013 in Income Tax Appeal (L) No.1516 of 2012 filed by the Revenue in respect of the same respondent – assessee. 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.)