Pr. Commissioner of Income Tax-18 v. Manjeetkaur

1. This appeal under Section 260A ofthe Income Tax Act, 1961 ('Act') by the Revenue is directed against the impugned order dated 16'^ September 2015 passed by the Income Tax Appellate Tribunal (TTAT') in ITA Nos. 3234/Del/2013 and 3749/Del/2013 for the Assessment Year 2009-10.

2. The main question sought to be urged for consideration by this Court is whether the ITAT erred in holding that the income from sale ofproperty in the facts and circumstances ofthe case, should be treated as income from Long Term and Short Term Capital Gain as per the Assessee instead ofbusiness income as per the Assessing Officer ('AO').

3. Having perused the impugned order of the ITAT the Court is not persuaded to hold that the reasoning ofthe ITAT is perverse or suffers from anylegal infirmity. ITA 182/2016 Page I of[2] 2016:DHC:8468-DB J" \ \

4. It was then contended that there was no rational basis for the Assessee to split up the composite consideration into one for land and another for building and therefore, the matter should be restored tothe file ofthe AO for computing the capital gain.

5. The Court finds that the Revenue had in fact filed across appeal before the ITAT against the order dated 25"^ March 2013 ofthe Commissioner of Income Tax (Appeals). The above aspect was not urged before the Revenue in its cross appeal. Even otherwise the Court finds that the Assessee has offered a satisfactory explanation for the splitting up the consideration.

6. No substantial question oflaw arises. The appeal is dismissed.

S.MURALIDHAR, J VIBHUBAKHRU, J MARCH 08,2016 Rk ITA182/2016 „ ^ Page 2 of[2]