COMMISSIONER OF INCOME TAX Vs. ZIAUDDIN AHMAD

JUDGEMENT

(1.) BOTH the cross appeals have been filed against the order dated 5 March 2010 passed by the Income Tax Appellate Tribunal, Lucknow in I.T.A. No. 499/LUC/2094 for the assessment year 2006 -07.

(2.) ON 22.01.2013, a coordinate Bench has admitted the appeal filed by the Department -appellant (ITA 467 of 2010) on the following substantial questions of law:

(3.) THE assessee has assailed the assessment order pertaining to the capital gain in an appeal before the CIT(A), which was dismissed. Being aggrieved, the assessee filed an appeal before the Tribunal, who has granted the relief by observing that capital gain is not chargeable for the assessment year under consideration. Being not satisfied, the Department has filed the appeal. The assessee has also filed the cross appeal to assail the validity of the proceedings under Section 147 of the Act.