FAIZ MURTAZA ALI Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This appeal by the assessee is the second round of litigation before this Court insofar as the assessment year 2002-03 is concerned. The appeal is directed against the order dated 31.05.2012 passed by the Income Tax Appellate Tribunal in ITA No.2117/Del./2007. The matter had been remitted to the Tribunal on a limited question. Earlier this Court had heard the appeal by the revenue in ITA No.929/2009. The questions which were proposed in that appeal were as under :-

(2.) Thereafter, this Court in the said order dated 10.05.2011 had noted that insofar as the question of genuineness of the sales by the assessee to various buyers for a sum of Rs. 39.47 lakhs was concerned, the Court was of the opinion that the finding arrived at in favour of the assessee was on the basis of evidence produced by the assessee and was a pure finding of fact. Therefore, this Court, in the said appeal, which was disposed of by the order dated 10.05.2011 did not disturb the finding of the Tribunal that the sales were genuine.

(3.) The only question which needed to be considered, in terms of the order dated 10.05.2011, was whether the articles sold by the assessee to different buyers could be treated as "personal effects? and, therefore, would be eligible for exemption under Section 2(14) of the Income Tax Act, 1961. This Court by virtue of the order dated 10.05.2011 directed as under: -