COMMISSIONER OF INCOME TAX Vs. GAUTAM MANUBHAI AMIN

JUDGEMENT

(1.) Present Tax Appeal is preferred by the Revenue challenging the impugned judgment and order passed by the learned ITAT dated 7.12.2012 passed in I.T.A. No. 2194/Ahd/2012 with respect to Assessment Year 2006-07 with the following proposed substantial question of law:--

(2.) Feeling aggrieved by and dissatisfied with the order of assessment passed by the Assessing Officer considering "Cost Inflation Index" as per the Financial Year 1998-99 on the ground that property has been acquired by the assessee on 23.12.1998, the assessee preferred appeal before the CIT(Appeals). The CIT(Appeals) relying upon the decision of the learned appellate Tribunal in the case of Dy. CIT v. Manjula J. Shah,2010 35 SOT 105 , which was later on affirmed by the Bombay High Court in the case CIT v. Manjula J. Shah, 2012 204 Taxman 691 and held that the "Cost Inflation Index" was to be given as on 1.4.1981.

(3.) Feeling aggrieved by and dissatisfied with the order passed by the learned CIT(Appeals), the Revenue preferred appeal before learned ITAT and by impugned judgment and order the learned ITAT had dismissed the said appeal confirming the order passed by CIT(Appeals).