DAKSHA ATUL SHAH,SURAT V. THE DCIT INT. TAXA, VADODARA

ITA 59/AHD/2021

AI Insights

The case involves two appeals filed by Shri Atul Jayantilal Shah and Daksha Atul Shah against the orders of the Commissioner of Income Tax (Appeals)-13, Ahmedabad, which confirmed the addition of Rs.36,01,000 in each case under section 50C of the Income Tax Act, 1961 for the Assessment Year 2015-16. The assessees, represented by Shri Parin S. Shah, AR, challenged the findings of the lower authorities. During the hearing, the assessees indicated their decision to settle under the Vivad Se Vishwas Scheme, 2024, leading to their request to withdraw the appeals, which was not objected to by the Departmental Representative.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 39170 (ITAT-AHMEDABAD)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-03-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2015-2016
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: KAVAN LIMBASIYA
• Keywords: Sale consideration of property below Jantri Value; Competent authority
• Section: 50C

Judgement Text

" आयकर अपीलीय अिधकरण, अहमदा बा द \u0012ा यपीठ “बी“, अहमदा बा द । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD सु\u0017ी सुिच\u0019ा का \u001aले, \u0012ा ियक सद\u001c एवं \u0017ी मकरंद वसंत महा देवकर, लेखा सद\u001c क े सम\"। ] ] BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER 1. आयकर अपील सं /ITA No.58/Ahd/2021 2. आयकर अपील सं /ITA No.59/Ahd/2021 (िनधा \u0010रण वष\u0010 /Assessment Year : 2015-16) 1. Shri Atul Jayantilal Shah 60, Santi Niketan Society Sumul Dairy Road Gotalawadi, Surat-395004 PAN: BOOPS 6908 C 2. Daksha Atul Shah (address same as above) PAN: BOOPS 6500 J बनाम/ v/s. 1-2. The DCIT Int.Taxation Vadodara – 390 008 अपीलाथ%/ (Appellants) &' यथ%/ (Respondent) Assessees by : Shri Parin S. Shah, AR Revenue by : Shri Kavan Limbasiya, Sr.DR सुनवाई की तारीख/Date of Hearing : 05 /03/2025 घोषणा की तारीख /Date of Pronouncement: 06 /03/2025 आदेश/O R D E R PER MAKARAND V. MAHADEOKAR, AM: These two appeals filed by the different assessees pertain to the Assessment Year (AY) 2015-16 against the separate orders passed by the Commissioner of Income Tax (Appeals)-13, Ahmedabad [hereinafter referred to as “CIT(A)”] both dated 04/03/2021 confirming the addition of Rs.36,01,000/- in each case under section 50C of the Income Tax Act, 1961 [hereinafter referred to as “the Act”]. ITA Nos.58 & 59/Ahd/2021 Shri Atul Jayantilal Shah & Dakshu Atul Shah vs. DCIT Int. Taxa. Asst. Years: 2015-16 2 2. For A.Y. 2015-16, in both the cases of assessees, the AO made addition(s) u/s.50C of the Act, which were confirmed by the Ld.CIT(A). 3. Aggrieved by the order(s) of the CIT(A), the assessees preferred the present appeals before us, challenging the findings of the lower authorities. 4. During the course of hearing, the AR of the assessees submitted separate letters dated 5th March 2025, stating that assessees have opted for settlement under the Vivad Se Vishwas Scheme, 2024 (VSVS), and Form No. 2 has been issued by the competent authority. Accordingly, the assessees requested to withdraw both the appeals. 5. The Departmental Representative (DR) raised no objections. Considering the submissions, the appeals are dismissed as withdrawn. However, the assessees are at liberty to seek restoration in case of any difficulty in implementing the scheme. 6. In the result, both the appeals of the assessees in ITA Nos.58/Ahd/2021 & 59/Ahd/2021 for AY 2015-16 are dismissed as withdrawn. Order pronounced in the Open Court on 6th March, 2025 at Ahmedabad. Sd/- Sd/- (SUCHITRA KAMBLE) JUDICIAL MEMBER (MAKARAND V. MAHADEOKAR) ACCOUNTANT MEMBER अहमदाबाद/Ahmedabad, िदनांक/Dated 06/03/2025 टी.सी.नायर, व.िन.स./T.C. NAIR, Sr. PS ITA Nos.58 & 59/Ahd/2021 Shri Atul Jayantilal Shah & Dakshu Atul Shah vs. DCIT Int. Taxa. Asst. Years: 2015-16 3 आदेश की !ितिलिप अ\"ेिषत/Copy of the Order forwarded to : 1. अपीलाथ$ / The Appellant 2. !%थ$ / The Respondent. 3. संबंिधत आयकर आयु& / Concerned CIT 4. आयकर आयु& ) अपील ( / The CIT(A)-13, Ahmedabad 5. िवभागीय !ितिनिध , आयकर अपीलीय अिधकरण , राजोकट/DR,ITAT, Ahmedabad, 6. गाड\u0010 फाईल / Guard file. आदेशानुसार/ BY ORDER, स%ािपत !ित //True Copy// सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण, ITAT, Ahmedabad 1. Date of dictation (copied matter) : 05.03.2025 2. Date on which the typed draft is placed before the Dictating Member. : 05.03.2025 3. Date on which the approved draft comes to the Sr.P.S./P.S : 4. Date on which the fair order is placed before the Dictating Member for pronouncement. : 5. Date on which fair order placed before Other Member : 6. Date on which the fair order comes back to the Sr.P.S./P.S. : 6.3.25 7. Date on which the file goes to the Bench Clerk. : 6.3.25 8. Date on which the file goes to the Head Clerk. : 9. The date on which the file goes to the Assistant Registrar for signature on the order. : 10. Date of Despatch of the Order : "