HIGH COURT OF JUDICATURE AT HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No. 331 of 2014 Date: 10.06.2014 Between:
Commissioner of Income Tax-III, Hyderabad.
… Appellant And Smt. Nimmagadda Sridevi … Respondent This Court made the following:
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR
I.T.T.A. No. 331 of 2014
JUDGMENT: (Per the Hon’ble The Chief Justice Sri Kalyan Jyoti Sengupta)
We have heard Sri B.Narasimha Sarma, learned counsel for the appellant, and gone through the impugned judgment and order of the learned Tribunal.
We are not inclined to admit this appeal for the following reasons.
While deciding the issue, whether, in the facts and circumstances of the case, the assessee was entitled to deduction under Section 54-F of the Income Tax Act, 1961 (hereafter referred to as ‘the Act’), on fact, the learned Tribunal found that within the period mentioned under Section 54-F of the Act after the transfer of the capital gains the investment was made. This has been settled by almost all the High Courts, and one such judgment is of Karnataka High Court in the case
[1]
of C.I.T. v. J.R. Subrahmanya Bhatt . When the impugned judgment is rendered by the Tribunal on appreciation of fact and findings thereon, this Court is nothing to do in its appellate jurisdiction as no point of law is involved in this matter.
Hence, this appeal is dismissed. No order as to costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J Date: 10.06.2014 GBS
[1] 165 ITR 571