2012 (5) TMI 838 - AT - Income Tax

Summary

Issues involved: Challenge to CIT(A)'s order u/s 17 read with section 16(3) of the Wealth Tax Act, 1957 for the assessment year 2005-06 regarding rented premises exemption u/s 2(ea)(i)(3) and 2(ea)(i)(5).

The Assessing Officer challenged the CIT(A)'s order regarding the assessment under section 17 read with section 16(3) of the Wealth Tax Act, 1957 for the assessment year 2005-06. The ground of challenge was that the rented premises were considered exempt u/s. 2(ea)(i)(3) and 2(ea)(i)(5) of the Wealth Tax Act. The Tribunal noted that the Commissioner's order for the assessment year 2004-05 in the assessee's case was followed in the impugned order. The assessee's counsel submitted that the revenue had accepted the Commissioner's order for the assessment year 2004-05 and did not appeal further. The Tribunal emphasized the principle of consistency in tax proceedings, citing legal precedents that disallowed challenging relief granted to an assessee in one year after accepting it in another year. The Tribunal declined to interfere in the matter as the AO had not challenged the relief granted to the assessee in the assessment year 2004-05, thereby confirming the CIT(A)'s order. The appeal filed by the revenue was dismissed based on this ground, without delving into the merits of the case.

This summary provides a detailed overview of the legal judgment, highlighting the issues involved and the Tribunal's decision based on the principle of consistency in tax proceedings.