2014 (3) TMI 812

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....Through ORDER S. Ravindra Bhat, J. (Open Court) The revenue claims to be aggrieved by the order dated 17.5.2013 of the Income Tax Appellate Tribunal (ITAT). The revenue's appeal questioning the deletion of Rs.55,72,612/- by the CIT(Appeals) was dismissed. It is urged that the findings of the Tribunal, in effect upholding the assessee's contention that the amount sought to be taxed was in ....

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....ssing the oral arguments, he has also placed before us a brief written synopsis. It has been contended that the Assessing Officer had wrongly treated the capital gain as short-term capital gain and while doing so, had erroneously taken the date of execution of the conveyance deed in favour of the assessee as the relevant date, rather than the date of allotment of the plot to the assessee by HUDA; ....

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....as to be filed by the assessee along with an amount of Rs.10,155/-, within thirty days, thereby having paid 25% of the total cost of the plot; that this amount had to be deposited by the assessee in his capacity as the owner of the plot, on allotment, which was done, as evidenced by the receipt of payment; that as per clause 11 of the allotment letter, the right of the assessee in the allotted plo....

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....down that registration of a document operates retrospectively; that in 'Gurbax Singh vs. Kartar Singh', 254 ITR 112 (SC), it has been held that registration of a document would relate back to the date of its execution; that in 'Hamda Amla V. Avadiappa (1991), 1 SCC 715 and 'Syamla Rao vs. CIT', 234 ITR 140 (A), it has been held likewise; that therefore, the Ld.CIT (A) has corre....