B.D. Gupta & Sons, 26, School Lane, Bangali Market, New Delhi. Vs. ITO, Ward-31(2), New Delhi.
August, 03rd 2015
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH : SMC-I : NEW DELHI
BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER
ITA Nos.5637 to 5643/Del/2014
Assessment Years : 1993-94 to 1998-99 & 2001-02
B.D. Gupta & Sons, Vs. ITO,
26, School Lane, Ward-31(2),
Bangali Market, New Delhi.
PAN : AADHB5998K
Assessee by : Shri M.P. Rastogi, Advocate &
Ms Lalitha Krishnamurthy, CA
Department by: Shri Om Prakash Meena, Sr.DR
Date of Hearing : 30.07.2015
Date of Pronouncement : 31.07.2015
These appeals filed by the assessee relate to Assessment Years 1993-
94 to 1998-99 & 2001-02. The assessee in all these appeals is aggrieved
against the inclusion of business income and interest income in its hands.
ITA Nos.5637 to 5643/Del/2014 2
2. These appeals were heard along with the appeal for the A.Y. 1992-93.
In fact, both the sides simply argued for the A.Y. 1992-93 and then adopted
their respective arguments for the years under consideration. I have passed
a separate order in ITA No.5636/Del/2014 for the assessment year 1992-93
directing that business and interest income be excluded from the total
income of the assessee HUF and, simultaneously, directions have been
given to the AO for taxing the income from the estate of Shri B.D. Gupta
in terms of section 168 of the Act. Both the sides are in agreement that the
facts and circumstances of these appeals are similar to those of assessment
year 1992-93. Following my separate order passed for AY 1992-93, the
business and interest income are directed to be excluded from the total
income of the assessee HUF and AO is directed to tax income from the
estate of the deceased as per section 168 of the Act.
3. In the result, all the appeals are disposed of in above terms.
The decision was pronounced in the open court on 31st July, 2015.
Dated: 31st July, 2015.
ITA Nos.5637 to 5643/Del/2014 3
Copy forwarded to
Dy. Registrar, ITAT, New Delhi