LAWS(KER)-2010-11-467

COMMISSIONER OF INCOME TAX Vs. INTERNATIONAL HOUSING COMPLEX

Decided On November 10, 2010
COMMISSIONER OF INCOME TAX Appellant
V/S
International Housing Complex Respondents

JUDGEMENT

(1.) THIS is an appeal filed by the Revenue challenging the order of the Tribunal, which confirmed the order of the CIT(A) cancelling the assessment of short -term capital gain on the respondent assessee for the asst. yr. 1993 -94.

(2.) WE have heard Shri P.K.R. Menon, learned senior counsel appearing for the Revenue, and Shri K. Gopalakrishna Kurup, learned senior counsel appearing for the respondent assessee.

(3.) THE facts leading to the controversy are as follows :