COMMISSIONER OF INCOME TAX Vs. JITENDRA MOHAN

JUDGEMENT

(1.) 4327/Del/2004 for the asst. yr. 2001 -02 [reported as Jitendra Mohan vs. ITO (2008) 113 TTJ (Del) ??? - -Ed. 2. The question that the Revenue seeks to urge in this case is whether the sale of an industrial shed by the assessee resulted in a short -term capital gain or a long -term capital gain. The assessee was issued an allotment letter in respect of an industrial shed by DSIDC. This was sometime in 1994. The assessee paid the first instalment immediately on

(2.) In view of this, the AO held that the sale of the asset, that is, the shed resulted in a short -term capital gain since the assessee held the asset for less than 36 months. The CIT(A) rejected the appeal of the assessee against this conclusion. However, the Tribunal allowed the assessee's further appeal on the ground that the assessee was entitled to the asset from the date of allotment. It is against this decision that the Revenue has filed the present appeal.

(3.) Even if it is found that the view taken by the Tribunal is incorrect on the facts of this case, we are of the opinion that it will pertain only to a single assessee and not constitute a general precedent. Therefore, the impugned order does not raise a substantial question of law.