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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Sh. M.Balaganesh, ACJ, Sh. Challa Nagendra Prasad, J
Mr. Atul Sharma – Appellant
Versus
ITO – Respondent
| Table of Content |
|---|
| 1. initial appeal context and financial details. (Para 1 , 2 , 3) |
| 2. dispute over characterization of compensation from dlf. (Para 4 , 5) |
| 3. court's reasoning on capital vs revenue receipt classification. (Para 6 , 9) |
| 4. final conclusion on appeal outcome. (Para 10 , 11) |
ORDER
PER M. BALAGANESH, ACCOUNTANT MEMBER :
1. This appeal in ITA No.5803/Del/2013 for A.Y. 2010-11 arises out of the order by the Commissioner of Income Tax (Appeals)-XXVIII, New Delhi dated 05.08.2013 (hereinafter referred to as ‘ld CIT(A)’ in short) against the order of assessment passed u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 26.12.2012 by the Assessing Officer (hereinafter referred to as ld. AO).
2. The assessee has raised following grounds of appeal :-
(i). The Assessing Officer and the Ld. CIT(A) have legally erred in treating the amount of compensation received from DLF Company by the appellant as interest income instead of capital receipt.
(ii). That the Ld. CIT(A) has wrongly categorized the amount paid to DLF Company for purchase of property as investment.
(iii). The appellant craves to right to add, alter or change any of the grounds of appeal at th
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