The Commissioner Of Income Tax v. M/S.b.brothers Decorators

ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1165 OF 2008WITHINCOME TAX APPEAL NO.1262 OF 2008WITHINCOME TAX APPEAL (L) NO.285 OF 2008 The Commissioner of Income Tax Vs. M/s.B.Brothers Decorators ..Appellant ..Respondent Mr.K.R.Chaudhari for the Appellant.None for the Respondent. P.C. CORAM :- DR.S.RADHAKRISHNAN &V.C.DAGA, JJ. DATE : 15TH DECEMBER, 2008 1.Heard the learned Counsel for the Appellant. None appeared for the Respondent, though served. Allthe above three appeals arise out of the common orderdated 27th March, 2007 passed by the Income TaxAppellate Tribunal. By way of the present Appeals,the Revenue is seeking to raise the issue whether theconsideration is a long term capital gain or a shortterm capital gain ? However, from the perusal of thejudgment dated 27th March, 2007, it is clear that theAssessee had surrendered his tenancy premises and in view thereof, he has been allotted eight Galas which were subsequently transferred. 2. In view thereof and in view of the finding of fact given by the Tribunal and specially in the lightof tenancy interest, no fault can be found in the :2:aforesaid finding of fact. There is no question oflaw involved in the above Appeals. Hence, all theAppeals stand dismissed. 3.It is made clear that the above Appeals aredismissed on merits notwithstanding the fact that thetax effect involved in all the above appeals is less than Rs.4,00,000/-. (V.C.DAGA,J.) (DR.S.RADHAKRISHNAN,J.)