ACIT, NCC - 11 (1),, CHENNAI vs. SHRI ANIL KUMAR SHANTICHAND MEHTA,, CHENNAI
In the result, the appeal filed by the Revenue is dismissed
ITA 302/CHNY/2020[2016-17]Status: DisposedITAT Chennai28 Sept 2022AY 2016-17
Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.302/Chny/2020 िनधा"रण वष"/Assessment Year: 2016-17 The Assistant Commissioner Of Vs. Shri Anil Kumar Shantichand Mehta, Income Tax, No. 196, Govindappa Naicken Street, Non Corporate Circle 11(1), George Town, Chennai 600 001. Chennai 600 006. [Pan:Aavps4928E] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri P. Sajit Kumar, Jcit ""थ" की ओर से/Respondent By : Shri D. Anand, Advdocate सुनवाई की तारीख/ Date Of Hearing : 02.08.2022 घोषणा की तारीख /Date Of Pronouncement : 28.09.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 13, Chennai, Dated 21.11.2019 Relevant To The Assessment Year 2016-17. The Revenue Has Raised The Following Grounds: 1. The Order Of The Learned Cit (A) Is Contrary To Facts & Circumstances Of The Case. 2. The Cit(A) Erroneously Held That The Assessee Had Not Claimed Exemption U/S.10(37) [P.8.2] Though The Assessee, Vide His Letter Dated 26-12-2018 Stated "The Compensation Of Rs.7,62,40,126/- Received Was Claimed Exempt U/S.10(37), However, It Was Erroneously Omitted To Be Mentioned In The Return Of Income Filed."
For Appellant: Shri P. Sajit Kumar, JCITFor Respondent: Shri D. Anand, Advdocate
Section 10(37)Section 2(14)(iii)Section 34Section 45Section 57
section 10(37) of the Act, as the Assessing Officer termed it erroneously and treated as long term capital gains of ₹.7,62,40,129/- was rightly deleted. We find no infirmity in the order passed by the ld. CIT(A) on this issue. Thus, the ground raised by the Revenue is dismissed.
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