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2013 (7) TMI 771 - HC - Income TaxWhether theTribunal is justified in confirming the addition of Rs. 5 lakhs to the income from business/profession – such addition illegal and perverse or not – Held that:- There was not any substantial question of law as the same findings had been only a question of fact. Whether the Tribunal is justified in confirming the addition as net long-term capital gains without allowing any deduction for cost and indexed cost of acquisition, in respect of the amount paid or obtaining the lease of the residential flat in 1961 and subsequent amounts spent on repairs – assesse contended that the Tribunal has proceeded in a very technical manner and not keeping in mind the ground realities - in Mumbai for a long time the practice of paying pugree has prevailed. In this regard, support is sought to be drawn from the order passed in I. T. A. No. 167 of 2006 - a copy of which is produced - the question relating to payment as pugree and consequently the need for calculating the cost of acquisition - reducing the incidence of capital gains is concerned - it is essentially a finding of fact – appeal decided against the assessee.
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