REGENT COMPUTRONICS PVT. LTD.

S.P. Balasubrahmanyam Appellant

V/S

Assistant Commissioner Of Income Tax Media Circle No. 112, Uttamar Gandhi Salai Chennai Respondents

Referred Judgements :-

LINDSAY PETROLEUM CO. V. PROSPER ARMSTRONG [REFERRED TO]
TAMILNADU MERCANTILE BANK LTD. V. APPELLATE AUTHORITY [REFERRED TO]
ARVINDBHAI H. SHAH V. ACIT [REFERRED TO]
BHARAT PETROLEUM CORPORATION LTD V. INCOME TAX APPELLATE TRIBUNAL [REFERRED TO]
VYLINE GLASS WORKS LTD V. ASSISTANT COMMISSIONER OF WEALTH TAX [REFERRED TO]
STATE OF MADHYA PRADESH VS. BHAILAL BHAI:BHIKABHAI:CHHAGANBHAI:GOVINDBHAI:RATILAL:BHIKABHAI:SHIVABHAI:RAICHANDBHAI:HAZARILAL:MAGANBHAI:SANABHAI:MANSUKHLAL:KASTURCHAND:VENIBHAI:KALIDAS:CHHOTABHAI DEAD AFTER HIM DHAI BEN:AMARCHAND:BHAILAL BHAI:KHODABHAI A [REFERRED TO]
P S SADASIVASWAMY VS. STATE OF TAMIL NADU [REFERRED TO]
MADAN LAL VS. STATE OF UTTAR PRADESH [REFERRED TO]
STATE OF MADHYA PRADESH VS. NANDLAL JAISWAL [REFERRED TO]
STATE OF MAHARASHTRA VS. DIGAMBAR [REFERRED TO]
STATE OF RAJASTHAN VS. D R LAXMI [REFERRED TO]
INDIA HOUSE VS. KISHAN N LALWANI [REFERRED TO]
HONDA SIEL POWER PRODUCTS LTD VS. COMMISSIONER OF INCOME TAX DELHI [REFERRED TO]
ASSISTANT COMMISSIONER VS. SAURASHTRA KUTCH STOCK EXCHANGE LTD [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. BHATIA K L [REFERRED TO]
DEEKSHA SURI VS. INCOME TAX APPELLATE TRIBUNAL [REFERRED TO]
BALJEET JOLLY VS. COMMISSIONER OF INCOME TAX [REFERRED TO]
KARAN AND CO VS. INCOME TAX APPELLATE TRIBUNAL [REFERRED TO]
J N SAHANI VS. INCOME TAX APPELLATE TRIBUNAL [REFERRED TO]
LACHMAN DASS BHATIA HINGWALA P LTD VS. ASSISTANT COMMISSIONER OF INCOME TAX [REFERRED TO]
ESHA BHATTACHARJEE VS. MANAGING COMMITTEE OF RAGHUNATHPUR NAFAR ACADEMY [REFERRED TO]
H. DOHIL CONSTRUCTIONS CO. P. LTD VS. NAHAR EXPORTS LTD [REFERRED TO]

JUDGEMENT

(1.) Tax Case Appeal is directed against the order made in MA No.96/Mds/2015 in ITA No.638/Mds/2011 dated 11.12.2015, by which, the Tribunal, dismissed the petition filed to recall the order made in ITA No.638/Mds/2011 dated 18.07.2011, as time barred.

(2.) Facts leading to the appeal are that being aggrieved by the order of the Commissioner of Income Tax (Appeals) dated 04.01.2011 made in ITA No.185/09-10, Assistant Commissioner of Income Tax, Media Circle I, Chennai, the assessee has filed an appeal before the Income Tax Appellate Tribunal, 'C' Bench, Chennai. When the matter was called, there was no appearance on behalf of the appellant/assessee. Joint Commissioner of Income Tax appeared for the Revenue and argued the case.

(3.) After hearing the arguments and considering the materials on record, the Tribunal, vide order dated 18.07.2011 made in ITA No.638/Mds/2011 for the Assessment Year 2007-2008, disagreed with the finding of the Commissioner of Income Tax (Appeals), that the cost of acquisition in the hands of the assessee must be taken at Rs.49,82,300/-. The Tribunal further held that the cost of acquisition must be taken at Rs.24,00,000/- as adopted by the Assessing Officer and ordered hereunder:

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S.P. BALASUBRAHMANYAM Vs. ASSISTANT COMMISSIONER OF INCOME TAX MEDIA CIRCLE NO. 112, UTTAMAR GANDHI SALAI CHENNAI

Referred Judgements :-

JUDGEMENT

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