ACIT, CENTRAL CIRCLE-3, PATNA V. SRI RAJESH KUMAR SINGH(HUF), PATNA

ITA 70/PAT/2019

AI Insights

The case involves appeals by the Assistant Commissioner of Income-tax, CC-3, Patna against Shri Rajesh Kumar Singh, HUF, concerning the assessment year 2010-11. The appeals were directed against the order passed by the Learned Commissioner of Income Tax (Appeals) - 3, Patna, which had arisen from the assessment order under sections 143(3)/153C of the Income-tax Act, 1961. The primary issues in the appeals were the taxability of Long Term Capital Gain in the year of registration of Joint Development Agreement (JDA) and General Power of Attorney (GPA), and the deletion of the entire addition made by the Assessing Officer on account of Long Term Capital Gain from the sale of property. The tribunal, after considering the tax effect and the CBDT instructions, dismissed the appeals.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 472594 (ITAT-PATNA)
• Duration Of Justice: 5 year(s) 7 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-10-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 18-10-2024
• Assessment Year: 2010-2011
• Appeal Filed On: 01-03-2019
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RINKU SINGH
• Assessee Lawyers: A.K. RASTOGI
• Keywords: Tax effect
• Section: 153C

Judgement Text

" आयकर अपीलीय अधिकरण न्यायपीठ, पटना। IN THE INCOME TAX APPELLATE TRIBUNAL PATNA BENCH, PATNA (Through virtual hearing at Kolkata) BEFORE DR. MANISH BORAD, ACCOUNTANT MEMBER & SHRI SONJOY SARMA, JUDICIAL MEMBER I.T.A. No. 70/PAT/2019 Assessment Year: 2010-11 Asst. Commissioner of Income-tax, CC-3 , Patna Vs Shri Rajesh Kumar Singh, HUF S/o Late Laxmi Narayan Singh, Sita Sadan, Rajapur Pul, Patna [PAN : AACHR7224K] अपीलार्थी/ (Appellant) प्रत्‍ यर्थी/ (Respondent) Assessee by : Shri A.K. Rastogi, Advocate Revenue by : Shri Rinku Singh, CIT DR सुनवाई की तारीख/Date of Hearing : 09.07.2024 & 18.10.2024 घोषणा की तारीख /Date of Pronouncement : 18.10.2024 आदेश/O R D E R PER DR. MANISH BORAD, ACCOUNTANT MEMBER: The captioned appeals filed by the Revenue, pertaining to assessment years 2010-11 are directed against the order passed by the Learned Commissioner of Income Tax (Appeals) – 3, Patna (hereinafter referred to as the ‘ld. CIT(A)’) dated 17th December, 2018, which is arising out of the assessment order u/s 143(3)/ 153C of the Income-tax Act, 1961 (the Act) vide dated 24th January, 2014. 2. Assessee has raised following grounds of appeal:- “1. That the CIT (A) has erred in deciding the taxability of Long Term Capital Gain in the hands of taxpayer in the year of registration of JDA and GPA 2. That the CIT (A) has erred in deleting the entire addition made by the AO on account of Long Term Capital Gain arising out of sale of property in the year of registration of instrument, treated as year of acquisition;” 3. With the assistance of ld. CIT(DR), we have gone through the grounds raised by the Revenue. It is pertinent to note that the tax effect by Page | 2 ITA No. 70/Pat/2019 Rajesh Kumar Singh; 2010-11 virtue of relief given by the first appellate authority is less than Rs.60,00,000/-. As per CBDT Instruction bearing No. 9 of 2024 issued on 17th September, 2024, CBDT has directed its subordinate authorities not to challenge the order of ld. CIT(Appeals) before Tribunal if tax effect by virtue of relief given by the ld. CIT(Appeals) is less than Rs.60,00,000/-. Such order could only be challenged if it comes within exceptions provided in the Instruction. Issue raised in the instant appeal do not fall in any of the exceptions provided in the CBDT Circular (supra) and therefore, this appeal is not maintainable. 4. On due consideration of the above facts and circumstances, we dismiss these appeals of the Revenue for want of tax effect. However, in case on re-verification of the facts at the end of the Assessing Officer, it comes out that tax effect is more than 60 lacs or this case falls in any of the exceptions provided in this Instruction then Revenue will be at liberty to file Miscellaneous Application for revival of these appeals. Such application should be filed within the time limit provided in the Act. 5. In the result, all the appeals of the Revenue are dismissed. Order pronounced in the Court on 18th October, 2024 at Kolkata. Sd/- Sd/- (SONJOY SARMA) (DR. MANISH BORAD) JUDICIAL MEMBER ACCOUNTANT MEMBER Kolkata, Dated 18.10.2024 *SS, Sr.Ps आदेश की प्रतततिति अग्रेतषत/Copy of the Order forwarded to : 1. अिीिार्थी / The Appellant 2. प्रत्यर्थी / The Respondent 3. संबंतित आयकर आयुक्त / Concerned Pr. CIT 4. आयकर आयुक्त ( अिीि ) / The CIT(A)- 5. तवभागीय प्रततनति , अतिकरण अिीिीय आयकर , िटना/DR,ITAT, Patna, 6. गार्ड फाईि / Guard file. आदेशानुसार/ BY ORDER, TRUE COPY Assistant Registrar आयकर अिीिीय अतिकरण ITAT, Patna "