Income Tax Officer, Bangalore vs. Late Smt. Lakshmamma, Bangalore
In the result, all the appeals of the revenue are treated as allowed for statistical purposes
ITA 1696/BANG/2016[2007-2008]Status: DisposedITAT Bangalore20 Feb 2019AY 2007-2008
Bench: Shri N.V.Vasudevan, Vp & Shri B.R.Baskaran, Am
For Respondent: Miss Neera Malhotra, CIT-DR
Section 143(3)Section 154
…the decision rendered by the Hon’ble Supreme Court in the case of ACIT v. Saurashtra Kutch Stock Exchange Ltd. (305 ITR 227) and also the decision rendered by the Hon’ble Karnataka High Court in the case of Mysore Cements Ltd. v. DC of Commercial Taxes (1994) 93 STC 464 in order to contend that the subsequent order passed by the Hon’ble Supreme Court and High Court would give rise to the mistake apparent from record. The LdA.R submitted that the prayer made by the assessees to exclude the capital gains in these years isin accordance with the decision rendered by the jurisdictional High Court in the case of Dr. T.…