Appeal dismissed, delay condoned, inheritance confirmed, house property income upheld.

The appeal was dismissed as no substantial question of law arose for consideration. The delay in refiling the appeal was condoned, and the Tribunal's decision to delete the addition of short term capital gains and income from house property was upheld. The sum received by the assessee was deemed inheritance from her father, fulfilling the conditions set in the will. The Tribunal also affirmed the CIT (Appeals) decision regarding the income from house property for the assessment year 2005-06, which was unchallenged by the revenue.

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Issues:
1. Condonation of delay in refiling the appeal.
2. Appeal against the order of the Income Tax Appellate Tribunal regarding short term capital gains and income from house property for the assessment year 2006-07.

Issue 1: Condonation of Delay
The judgment begins by addressing the delay in refiling the appeal, which is subsequently condoned, leading to the disposal of the application. This issue is resolved at the outset, ensuring procedural compliance.

Issue 2: Appeal Against ITAT Order
The appeal challenges the ITAT order concerning the addition of Rs. 1,07,25,000 as short term capital gains and Rs. 6,72,910 as income from house property for the assessment year 2006-07. The assessing officer had added the sum received by the assessee from her brother, as directed by their late father in his will, to the total income. However, the CIT (Appeals) deleted the addition of Rs. 1,07,25,000, a decision upheld by the Tribunal based on different reasons.

Grounds for Deletion
The judgment delves into the specifics of the case, emphasizing that the sum received by the assessee was inheritance from her father as per the will's provisions. The Tribunal's decision is supported by the fact that the condition for the assessee to receive the sale proceeds had been fulfilled during the father's lifetime. Even if considered income, the assessee is entitled to benefits under Section 56(2)(v) of the Income Tax Act, 1961.

Second Ground
Regarding the addition of Rs. 6,72,910, the issue was decided in favor of the assessee for the assessment year 2005-06 by the CIT (Appeals) and remained unchallenged by the revenue before the Tribunal. Consequently, the Tribunal confirmed the CIT (Appeals) decision, warranting no interference.

Conclusion
The judgment concludes that no substantial question of law arises for consideration, leading to the dismissal of the appeal. The detailed analysis of each issue provides a comprehensive understanding of the legal reasoning behind the decision.

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