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TMI Blog1983 (3) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... H. Dalmia, . Shri Y.H. Dalmia, . Shri R.H. Dalmia, 1,98,511.46 Utensils being articles of personal effects any profit on its sale is exempt from tax, hence not included above." 2. The ITO also considered the assessee s letter dt.5th Feb., 1979in this regard. According to the assessee the silver utensils had been acquired by him some 20-25 years earlier. However, there was no evidence for the exact date of acquisition for the above assets. The ITO presumed that the assessee must have been is possession of the items in any case prior to the commencement of the accounting year and looking to the financial and social statute of the assessee he decided to look upon them as long term assets for the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... seen. . Less : Exempt u/s 80T . 1st 5000 @ 100% 5000 . Balance @ 40% . u/s 80T(b) (ii) 62622 93,934 The assessee appealed. 5. The CIT(A) first of all commented on the factual part of the controversy as under: "The appellant owned and possessed a number of silver utensils and other articles made of silver. A complete list has been furnished by the appellant giving description and weight of each item. The list is in two parts. One list contains utensils such as Thali, Katori, Lota, etc. meant for personal use of the appellant. The total weight of items in this list is 180 kg. and 465 gms., the other list is a mixed one which contains items meant for puja. These ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns the ITO will look into this matter and do the needful." 7. In this appeal by the Revenue objection is taken to the CIT(A) direction to delete the capital gains on the sale of 180.465 kg. Shri J.S. Jao Departmental Representative, supported the order of the ITO. For the assessee Shri Hari Har Lal ld. counsel in list in Annexure B1 and submitted that the CIT(A) s decision was correct on facts. He also invited attention to the order of the Tribunal in ITA No. 4607 (Del)/1981 in the case of Sanjay Dalmia for the asst. yr. 1976-77. There also the question before the Tribunal was whether any capital gains could be assessed on the sale of silver utensils of the weight of 15.88 kg. The assessee s claim was that such utensils represented perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nment allowance received by the assessee. The CIT(A) has disposed of this issue as under: "Objection has been taken to the disallowance of Rs. 900 out of entertainment allowance totalling Rs. 8,400, Rs. 6,000 received from Dalmia Agencies Private Ltd. and Rs. 2,400 from Hari Bros. Private Ltd. respectively. He appellant s counsel Shri M.L. Dojari,C.A.has invited my attention to that ITAT Delhi Bench 'D order in ITA No. 1683(Del)/1973-74 dt.4th Oct., 1975for the asst. yr. 1971-72. An identical issue had been decided by the Tribunal vide their aforesaid order wherein an identical disallowance of Rs. 900 was deleted. Following this order of the Tribunal, I direct deletion of Rs. 900 objected to by the appellant in the present appeal." Whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to disagree with the CIT(A) s finding that these articles cannot be described as personal effects. There is also point made by the ITO that the sale of such articles to a trust cannot be easily reconciled with the compulsive daily devotions of the assessee. In these circumstances, we would confirm the CIT(A) order on this point. 13. The next objection is that the CIT(A) erred in not directing the ITO to allow deduction under s. 80T on gross capital gain. Here we find the CIT(A) has merely restored the matter to the file of the ITO for disposing of the assessee s objection in this regard. Hence there can be no grievance on the part of the assessee. Shri Hari Har Lal submitted that the decision in the case of Cloth Traders P. Ltd. vs. Addl. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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