SAVITA SUBHASH TILEKAR,,PUNE vs. INCOME-TAX OFFICER, WARD - 14 (4),, PUNE

This appeal is time-barred by 696 days. The assessee has filed an application for condonation of delay stating reasons to the effect that, at the material time, she was suffering from cancer and undergoing treatment of Chemotherapy. I am satisfied with such reason. The delay is condoned and the appeal is admitted for hearing on merits.

The only issue raised in this appeal on merits is against the addition on account of long term capital gain.

I have heard both the sides and perused the relevant material on record. It is seen that the instant dispute arose on account of transfer of a capital asset, of which the assessee was the co-owner. The other co-owners, namely, Shri Pritam Subhash Tilekar and Shri Vikram Subhash Tilekar are sons of the assessee. Similar additions were made in the hands of the other co-owners. The matter came up for consideration before the Tribunal in the hands of other two co-owners. The Tribunal, vide order dated 06-09-2019 in & 963/PUN/2019, has allowed the appeals of the other co- owners. A copy of such order has been placed on record. It has been fairly admitted that the facts and circumstances of the instant appeal are mutatis mutandis similar to those already considered and decided by the Tribunal in the case of the other two co-owners. Respectfully following the precedent, I overturn the impugned order and direct to delete the addition.

In the result, the appeal is allowed.