BINDU PREMANANDH Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) We have heard Mr A Kumar and Mr Christopher Abraham for the parties.

(2.) The assessee/Bindu Premananth is the appellant. The Commissioner of Income Tax, Kochi/Revenue is the respondent. The appeal is at the instance of the assessee under Sec. 260A of the Income Tax Act, 1961 (for short, the Act ) being aggrieved by the order dtd. 30/11/2018 in I.T.A No.40/Coch/2017 of the Income Tax Appellate Tribunal, Cochin Bench (for short, 'the Tribunal'). The appeal relates to the assessment year 2013-14. The circumstances are in a limited sphere and are adverted to as under:

(3.) The assessee an individual, on 31/10/2013 filed the returns for the assessment year 2013-14. Notice dtd. 4/9/2014 under Sec. 143(2) of the Act was issued to the assessee. On 9/9/2015, a notice under Sec. 142(1) was issued to the assessee. The dispute between the assessee and the Revenue arises under Sec. 54F of the Act. The dates relevant for examining the claim of the assessee for computation of business income, are stated chronologically as follows: