ATUL KUMAR GUPTA,GURGAON V. INCOME TAX OFFICER, WARD 1(5), GURGAON

ITA 6221/DEL/2025

AI Insights

The case involves an appeal by Sh. Atul Kumar Gupta against the order of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre, which upheld the addition of long-term capital gains amounting to Rs.1,19,43,998 for the assessment year 2012-13. The capital gains were assessed following the sale of a capital asset in Karol Bagh, New Delhi, in which the assessee held a 1/5th share. The primary contention was regarding the valuation used for the computation of these gains. The tribunal considered a subsequent DVO report that provided a different valuation for the asset, which was deemed binding and led to the decision to remand the matter back to the Assessing Officer for a fresh computation.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 789666 (ITAT-DELHI)
• Duration Of Justice: 1 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: misc
• Appeal Filed On: 01-10-2025
• Other Referred Cases: CIT Vs. Dr. Indra Swaroop Bhatnagar
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANOJ KUMAR
• Assessee Lawyers: NAGESH BEHL
• Keywords: Capital asset; Cost of acquisition; Capital Gains
• Section: 143(3)

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: “SMC” NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER ITA No.6221/Del/2025 Assessment Year: 2012-13 Sh. Atul Kumar Gupta, B-91, 2nd Floor, Ardee City, Sector-52, Gurgaon Vs. Income Tax Officer, Ward-1(5), Gurgaon PAN: ADRPG4109N (Appellant) (Respondent) ORDER This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2025-26/1079369562(1), dated 07.08.2025 involving proceedings under section 143(3) r.w.s. 147 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). Heard both the parties. Case file perused. 2. Coming to the assessee’s sole substantive ground raised herein challenging both the learned lower authorities’ action adding/assessing long-term capital gains of Rs.1,19,43,998/- in Assessee by Sh. Nagesh Behl, Adv. Department by Sh. Manoj Kumar, Sr. DR Date of hearing 24.11.2025 Date of pronouncement 24.11.2025 Printed from counselvise.com ITA No.6221/Del/2025 2 | P a g e his hands in assessment order dated 06.12.2019 as upheld in the lower appellate discussion, it is noticed from a perusal of the case records that he happens to be the co-owner to the extent of 1/5th share; along with his brothers/father in sale/transfer of the capital asset at Karol Bagh, New Delhi for total sale consideration of Rs.16.55 crores. 3. That being the case, the assessee invites the tribunal’s attention to pages 65 in the case records wherein the DVO had submitted his report on 21st July, 2023 regarding the very capital asset in his brother Sh. Arun Kumar Gupta’s case determining the cost of acquisition of Rs.1,25,70,400/- as on 01.04.1985. Faced with this situation, the tribunal is of the considered view that the learned departmental authorities ought to go by the foregoing valuation only as the same is very much binding on them as per (2013) 30 taxmann.com 293 (All.), CIT Vs. Dr. Indra Swaroop Bhatnagar. It is thus deemed appropriate to restore the assessee’s instant sole substantive ground back to the learned Assessing Officer for afresh computation of the assessee’s long-term capital gain in light of the said DVO’s report as per law. 4. This assessee’s appeal is allowed in above terms. Printed from counselvise.com ITA No.6221/Del/2025 3 | P a g e Order pronounced in the open court on 24th November, 2025 Sd/- (SATBEER SINGH GODARA) JUDICIAL MEMBER Dated: 24th November, 2025. RK/- Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi Printed from counselvise.com "