9911796707
TMI Blog2024 (8) TMI 1023X X X X Extracts X X X X X X X X Extracts X X X X ..... sources - claim of the assessee is that such receipt is a capital receipt and not income - HELD THAT:- As carefully perused the decision of Sarfaraz S. Furniturewalla [ 2024 (5) TMI 163 - BOMBAY HIGH COURT ] wherein the Hon ble High Court has held that any hardship allowance and rehabilitation allowance which is paid by the developer who suffers hardship due to dispossession cannot be considered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Income Tax Officer, Ward-35(3)(3) ( the ld. AO ) was dismissed. 2. Assessee is aggrieved and preferred this appeal raising following grounds: i. The ld. CPC erred in adding the amount of Rs. 20,00,000/- to the total income of the assessee where the amount was received by the assessee from his real brother (being an NRI) as a gift out of natural love and affection. ii. The ld. CPC erred in adding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that assessee has not filed any return of income for the impugned assessment order. The information was received that assessee being member of MIG Co-op Housing Society Ltd., has received a payment of Rs. 25,21,508/- during the F.Y. 2010-11 from D.B. MIG Realtors and Builders when that co-operative society has gone for re-development. 5. Notice u/s 148 was issued to the assessee. Assessee submit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal of the assessee was dismissed. 8. Assessee preferred appeal before us and submitted that issue is now squarely covered in favour of the assessee by the decision of the Hon ble Bombay High Court in Writ Petition No. 4958 of 2024 in case of Sarfaraz S. Furniturewalla dated 15.04.2024 wherein it has been held that the hardship allowance paid by the developer is not to be considered and is not li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... puted fact that assessee is also receiving the hardship allowance from the developer. Thus, the amount of hardship allowance received by the assessee of Rs. 25,21,508/- is not income of the assessee. Therefore, respectfully following the decision of Hon ble Bombay High Court, we allow ground no. 1 of the appeal and direct the ld. Assessing Officer to delete the addition of Rs. 25,21,508/- made in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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