SHRI MUNISH ARORA,CHANDIGARH vs. ACIT, CC-II, CHANDIGARH
In the result, the appeals filed for Assessee are disposed off as under:
ITA 171/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh09 Oct 2024AY 2012-13
Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 156/Chd/2019 "नधा"रण वष" / Assessment Year : 2008-09 आयकर अपील सं./ Ita No. 157/Chd/2019 "नधा"रण वष" / Assessment Year : 2009-10 आयकर अपील सं./ Ita No. 158/Chd/2019 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ Ita No. 169/Chd/2019 "नधा"रण वष" / Assessment Year : 2010-11 आयकर अपील सं./ Ita No. 170/Chd/2019 "नधा"रण वष" / Assessment Year : 2011-12 & आयकर अपील सं./ Ita No. 171/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 Shri Munish Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Aexpa3762N अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024
For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Kusum Bansal, CIT DR
Section 40A(3)
gain on pre- payment of deferred VAT/sales tax on Net
Present Value (NPV) basis as capital receipt, since assessment got abated, it was open for assessee to lodge a new claim in a proceeding under section 153A(1) which was not claimed in his regular return of income, thus, impugned order of AO rejecting such claim of assessee was unjustified
