TMI Blog2015 (12) TMI 983X X X X Extracts X X X X X X X X Extracts X X X X ..... ort of the Inspector who visited the premises, concludes as a fact that the Appellant continues to occupy the tenanted property and the entire process of redevelopment is stalled because of a legal dispute. Further, Documents on record such as rent receipt, addresses in bank account etc., indicated that tenancy continued. In this case, the Respondent-Assessess disputes the surrender of tenancy and/or any transfer and on examination of the clauses of the Agreements, the CIT(A) and the Tribunal accept the fact that no surrender/transfer took place. - Decided against revenue - ITA. 2194 of 2013 - - - Dated:- 8-12-2015 - M. S. Sanklecha And G. S. Kulkarni, JJ. For the Appellant : A R Malhotra with Padma Divakar ORDER P. C. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f one property? It would be noted that Questions (a) and (b) are on one issue while Question (c) would arise only as consequence if Questions (a) and (b) are decided in favour of the Revenue. 3 Re: Questions (a) and (b): (a) The RespondentAssessee is a tenant of a residential premises owned by Deshbhushan Cooperative Housing Society (the Society). On 9th May, 2007, the Society entered into a development agreement with a developer for the redevelopment of the society premises. In terms of the above agreement, developer was to provide the tenant with an alternate accommodation in the newly constructed building in lieu of his tenancy rights. On 25th July, 2007, the RespondentAssessee had entered into another agreement with the devel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Revenue is that the date of the agreements dated 9th May, 2007 and 25th July, 2007 is the date of transfer i.e. surrender of tenancy and therefore, chargeable to capital gain tax. In support, reliance was placed upon the decision of this Court in Chatrabhuj Dwarkadas Kapadia v/s.CIT 260 ITR 491. (f) We find that on examination of the agreements, both CIT(A) as well as Tribunal have categorically rendered a finding that there was, in fact, no surrender of tenancy under the two agreements dated 9th May, 2007 and 25th July, 2007. Thus, no transfer for the purposes of capital gains. This finding on the basis of the examination of various clauses of the agreement coupled with the inspection report of the Inspector who visited the prem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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