DCIT, NON CORPORATE CIRCLE - 2(1),, CHENNAI vs. SHRI JAYAPAL SANJAY, CHENNAI
In the result, the appeal of the revenue is allowed
ITA 1737/CHNY/2019[2015-16]Status: DisposedITAT Chennai19 Aug 2022AY 2015-16
Bench: Shri Mahavir Singh & Shri Girish Agrawalassessment Year: 2015-16 Deputy Commissioner Of Shri Jayapal Sanjay Income Tax, Non-Corporate 78/132, Dr. Radhakrishnan Circle-2(1), Chennai Salai, Mylapore, Room No. 320, 3Rd Floor, Vs. Chennai-600004. Wanaparthy Block, Aayakar (Pan: Aavps9647J) Bhavan, 121, M G Road, Nungambakkam, Chennai-34. (Appellant) (Respondent) Present For: Appellant By : Shri Suhrith Parthasarathy, Advocate Respondent By : Shri Ar V Sreenivasan, Addl. Cit Date Of Hearing : 25.05.2022 Date Of Pronouncement : 19.08.2022 O R D E R Per Girish Agrawal: This Appeal By The Revenue Is Directed Against The Order Of Ld. Cit(A)-2, Chennai Vide Ita No. 161/2017-18/(A)-2 Dated 27.03.2019 Passed Against The Order Of Acit, Non-Corporate Circle-2, Chennai Dated 29.12.2017 U/S. 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) For A.Y. 2015-16. 2. Before Us Shri Suhrith Parthasarathy, Advocate Appeared On Behalf Of The Assessee & Shri Ar V Sreenivasan, Addl. Cit Appeared On Behalf Of The Revenue.
For Appellant: Shri Suhrith Parthasarathy, AdvocateFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 143(3)Section 48
…r burden created by transfer of any interest in a property. It is a liability attached to the property that runs with the land. [National Textile Corporation v. State of Maharashtra, AIR 1977 SC 1566 explained in Saradamani Kandappan v. S. Rajalakshmi, (2011) 12 SCC 18] (ii) Mere execution of an MOU, agreeing to enter into an agreement to sell the property, does not amount to encumbering a property. Receiving advances or amounts in pursuance of an MOU would not also amount to creating an encumbrance. [Saradamani Kandappan v. S. Rajalakshmi, (2011) 12 SCC 18] (iii) Encumbrance must be a charge on the property. I…
