TMI Blog2017 (1) TMI 995X X X X Extracts X X X X X X X X Extracts X X X X ..... al. The documents have sought to be relied upon in the form of the Arbitral award is pursuant to an Arbitral agreement dated 20th December, 2013 as we have observed earlier which is more than a year after the impugned order was passed. Furthermore, the correspondence sought to be relied upon in the above present Chamber Summons as part of the amendment sought by at paragraph xv on page 6 of the appeal paper book are the very same documents which were filed before the Tribunal along with the Additional Evidences Paper Book. In our view, the amendment sought is impermissible. We are not inclined to allow the Chamber Summons and we therefore declare Chamber Summons as dismissed. - Chamber Summons No. 335 of 2015, Income Tax Appeal No. 314 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Section 54F of the Income Tax Act (the Act). While disposing of the appeal, the Tribunal observed, as did the Commissioner that as per Section 54F the assessee was supposed to construct a residential house within three years or purchase a residential house within two years of receipt of sale proceeds of a capital asset in order to avail the benefit of the said Section and to save himself from the payment from capital gains tax. The admitted position is that within the period allowed in law, the assessee had not entered into any agreement to purchase the flat(s) nor did he construct a residential house. It was not the case of the appellant-assessee that the consideration received from disposal of the asset had been appropriated towards pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncement certificate dated 29th July, 2003 as updated on 7th September, 2010, Occupancy Certificate for wings A and B , some correspondence and Sketch plan of flats. The said application came to be considered by the Tribunal at a hearing on 8th October, 2012 after which impugned order dismissing the appeal came to be passed. The present appeal in which the Chamber Summons has been taken out questions the validity of the aforesaid order dated 8th October, 2012 on the basis that the Tribunal had not passed any order on the application seeking to lead additional evidence contained in the Additional Evidences Paper Book but it proceeded to dismiss the appeal after considering the commencement certificate and the sketch plans in paragraph 9 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re submitted that the transaction to acquire premises originally contemplated and in respect of which exemption had been sought has now been completed by virtue of the said Arbitral award. Mr. Shah urged that the appeal was a continuation of the original proceedings before the Tribunal and therefore the amendment can be allowed. 7. Having heard the submissions in support of the Chamber Summons and having perused the affidavit in support of the Chamber Summons and its annexures, we find that the award dated 9th May, 2014 is a Consent Award passed by a sole arbitrator appointed pursuant to an arbitration agreement dated 20th December. 2013. This agreement was not before the Court nor does the appellant-assessee seek to rely upon the same. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant's right to claim exemption by a virtue of completion of the agreement to purchase the property. 9. Mr. Shah also relied upon the observations of Orissa High Court in the case of Gopal Chandra Chaudhary v/s. The Life Insurance Corporation of India AIR 1985 Orissa 120. Placing reliance on the observations in paragraph 9 wherein the Orissa High Court quotes from M. Laxmi Co. v/s. Dr. Anant R. Deshpande (AIR 1973 SC 171), he submitted that Courts can take notice of subsequent events and if the Court finds that because of altered circumstances like devolution of interest, it is necessary to shorten litigation and if the original relief had become inappropriate, the Court can take notice of new developments. Mr. Shah submitted t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... events can be taken into consideration by the Appellate Tribunal while granting relief to the parties. This decision does not, in our view, assist the appellant-assessee in support of his Chamber Summons. 13. Having considered these aspects, we find that the amendment now sought and which seeks to include the copy of the arbitral award as well as certain correspondence the appellant seeks to extend reliance upon the additional evidence to these documents over and above the Additional Evidences Paper Book filed before the Tribunal. The documents have sought to be relied upon in the form of the Arbitral award is pursuant to an Arbitral agreement dated 20th December, 2013 as we have observed earlier which is more than a year after the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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