M/s. B.D. Gupta & Sons, New Delhi v. ITO, New Delhi

ITA 5643/DEL/2014 | 2001-2002
Pronouncement Date: 31-07-2015

Appeal Details

RSA Number 564320114 RSA 2014
Assessee PAN AADHB5998K
Bench Delhi
Appeal Number ITA 5643/DEL/2014
Duration Of Justice 9 month(s) 11 day(s)
Appellant M/s. B.D. Gupta & Sons, New Delhi
Respondent ITO, New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 31-07-2015
Appeal Filed By Assessee
Bench Allotted SMC 1
Tribunal Order Date 31-07-2015
Date Of Final Hearing 30-07-2015
Next Hearing Date 30-07-2015
Assessment Year 2001-2002
Appeal Filed On 20-10-2014
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC-I : NEW DELHI BEFORE SHRI R.S. SYAL ACCOUNTANT MEMBER ITA NOS.5637 TO 5643/DEL/2014 ASSESSMENT YEARS : 1993-94 TO 1998-99 & 2001-02 B.D. GUPTA & SONS 26 SCHOOL LANE BANGALI MARKET NEW DELHI. PAN : AADHB5998K VS. ITO WARD-31(2) NEW DELHI. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI M.P. RASTOGI ADVOCATE & MS LALITHA KRISHNAMURTHY CA DEPARTMENT BY: SHRI OM PRAKASH MEENA SR.DR DATE OF HEARING : 30.07.2015 DATE OF PRONOUNCEMENT : 31.07.2015 ORDER THESE APPEALS FILED BY THE ASSESSEE RELATE TO ASSES SMENT YEARS 1993- 94 TO 1998-99 & 2001-02. THE ASSESSEE IN ALL THESE APPEALS IS AGGRIEVED AGAINST THE INCLUSION OF BUSINESS INCOME AND INTERE ST INCOME IN ITS HANDS. ITA NOS.5637 TO 5643/DEL/2014 2 2. THESE APPEALS WERE HEARD ALONG WITH THE APPEAL F OR THE A.Y. 1992-93. IN FACT BOTH THE SIDES SIMPLY ARGUED FOR THE A.Y. 1992-93 AND THEN ADOPTED THEIR RESPECTIVE ARGUMENTS FOR THE YEARS UNDER CONS IDERATION. I HAVE PASSED A SEPARATE ORDER IN ITA NO.5636/DEL/2014 FOR THE AS SESSMENT YEAR 1992-93 DIRECTING THAT BUSINESS AND INTEREST INCOME BE EXCL UDED FROM THE TOTAL INCOME OF THE ASSESSEE HUF AND SIMULTANEOUSLY DIR ECTIONS HAVE BEEN GIVEN TO THE AO FOR TAXING THE INCOME FROM THE ESTA TE OF SHRI B.D. GUPTA IN TERMS OF SECTION 168 OF THE ACT. BOTH THE SIDES ARE IN AGREEMENT THAT THE FACTS AND CIRCUMSTANCES OF THESE APPEALS ARE SIMILA R TO THOSE OF ASSESSMENT YEAR 1992-93. FOLLOWING MY SEPARATE ORDER PASSED F OR AY 1992-93 THE BUSINESS AND INTEREST INCOME ARE DIRECTED TO BE EXC LUDED FROM THE TOTAL INCOME OF THE ASSESSEE HUF AND AO IS DIRECTED TO TA X INCOME FROM THE ESTATE OF THE DECEASED AS PER SECTION 168 OF THE AC T. 3. IN THE RESULT ALL THE APPEALS ARE DISPOSED OF I N ABOVE TERMS. THE DECISION WAS PRONOUNCED IN THE OPEN COURT ON 31 ST JULY 2015. SD/- (R.S. SYAL) ACCOUNTANT M EMBER DATED: 31 ST JULY 2015. ITA NOS.5637 TO 5643/DEL/2014 3 DK COPY FORWARDED TO 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR DY. REGISTRAR ITAT NEW DELHI