TMI Blog2018 (3) TMI 436X X X X Extracts X X X X X X X X Extracts X X X X ..... ole reliance upon the statement of Mr. Deshmukh, is not justified in the context of the documentary evidence to the contrary. Therefore, on the basis of the allotment letter, it is clear that no possession of the plot was given to the prospective buyers till the execution of the sale deed. In the above circumstances, the view taken by the Tribunal, on facts, is a possible view. Therefore, the proposed question does not give rise to any substantial question of law. Also it is an undisputed position that Assessee has offered the income on sale of plot to tax, on execution of sale deed. The Revenue has also accepted the tax on it. Therefore, in the absence of Revenue pointing out any change in law in the subsequent year which works to its p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of land which was done on the date of letter of allotment, handing over possession to the buyers. This, after rejecting the Respondent's contention that the possession of the land was granted only on the execution of the sale deed i.e. on receipt of balance amount. Further, on execution of the sale deed, the entire amount received on sale of plot was offered to tax. In the result, the Assessing Officer in all the six Assessment Years, treated the sale of the plots as having taken place on the date the letter of allotment was issued. 4 Being aggrieved, the RespondentAssessee filed six appeals to the Commissioner of Income Tax (Appeals) [CIT(A)] from the orders of assessment in respect of all these six Assessment Years. By a common ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned Counsel for the Revenue submits that the impugned order completely ignores the definition of transfer provided under Section 2 (47) of the Act. It is submitted that execution of allotment letter gives rise to part performance and, therefore, transfer. Further, there is a statement made by one Mr. Arun V. Deshmukh, Vice President of Girivan Plot, Owners Association, Pune, who states that the manner in which the transaction takes place, is contrary to what is recorded in the allotment letter. 7 We note that facts recorded in the impugned order of the Tribunal in respect of the purport and meaning of the Allotment letters is not disputed by the Revenue. It is not the case of the Revenue that the findings in respect of allotment lette ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Assessment Years, is only an academic exercise. This is particularly, so as there is no change in law and/or rate of tax which is shown to us. In fact, this Court in CIT v/s. Nagri Mills Co. Ltd., 1958 33 ITR 658 it has observed that the Income Tax Authority seems to delight in raising issue in respect of which year the deduction is to be allowed, even in the absence of any change in the rate of tax or any other material which would have a bearing on the revenue to be collected. It observed that the Department should not fritter away its energies in seeking to bring to tax income in a particular year rather then the year in which the Assessee has offered the income to tax. However, it appears that the above observations has had no impact ..... X X X X Extracts X X X X X X X X Extracts X X X X
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