Sh. Manoj Kumar, Meerut V. ITO, Meerut

ITA 1068/DEL/2015

• Counselvise Citation: 106820114 RSA 2015
• Duration Of Justice: 6 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-09-2015
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC 1
• Next Hearing Date: 13-08-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 23-02-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: GARIMA JAIN SENIOR
• Assessee Lawyers: VINOD KUMAR GOYAL
• Section: 54F

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH SMC SMC SMC SMC- -- -1 11 1 : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI G.C. GUPTA BEFORE SHRI G.C. GUPTA BEFORE SHRI G.C. GUPTA BEFORE SHRI G.C. GUPTA, VICE , VICE , VICE , VICE PRESIDENT PRESIDENT PRESIDENT PRESIDENT ITA NO ITA NO ITA NO ITA NO . .. . 1068/DEL/2015 1068/DEL/2015 1068/DEL/2015 1068/DEL/2015 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 2004 2004 2004 2004 - -- - 05 0505 05 SHRI MANOJ KUMAR, SHRI MANOJ KUMAR, SHRI MANOJ KUMAR, SHRI MANOJ KUMAR, 173, KASERU BUXER, 173, KASERU BUXER, 173, KASERU BUXER, 173, KASERU BUXER, MEERUT. MEERUT. MEERUT. MEERUT. PAN : ALXPK7255K. PAN : ALXPK7255K. PAN : ALXPK7255K. PAN : ALXPK7255K. VS. VS. VS. VS. INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -1 11 1(4), (4), (4), (4), MEERUT. MEERUT. MEERUT. MEERUT. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI VINOD KUMAR GOYAL, ADVOCATE. RESPONDENT BY : MS. GARIMA JAIN, SENIOR DR. DATE OF HEARING : 13.08.2015 13.08.2015 13.08.2015 13.08.2015 DATE OF PRONOUNCEMENT : 08.09.2015 08.09.2015 08.09.2015 08.09.2015 ORDER ORDER ORDER ORDER THIS APPEAL BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2004-0 5 IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A), MEERUT DATED 11 TH FEBRUARY, 2015. 2. THE GROUNDS OF APPEAL OF THE ASSESSEE ARE AS UNDER:- 1. THAT LD.CIT(A), MEERUT ON PAGE NO.4, PARA NO.3. 3 STATES INCORRECT FACT THAT THE A.O. HAS NOT TAXED THE AMOUNT WHICH WAS ADJUSTED AGAINST PLOTS. AS PER SECTION 54F THE ASSESSEE CAN UTILIZED THE TOTAL COMPENSATION RECEIVED PRIOR TO ONE YEAR AND AFTER TWO YEARS. THE REFORE, CIT(A) COMMITTED ERROR NOT TO ALLOWED DEDUCTION U/S 54F OF I.T. ACT. 2. THAT LD.A.O. AS WELL AS LD.CIT(A), MEERUT IGNORED THE CBDT CIRCULAR QUOTED BY THE ASSESSEE ARE BINDING UPON T HE INCOME-TAX DEPARTMENT. THEREFORE, ASSESSMENT FRAMED BY THE A.O. AND CONFIRMED BY THE CIT(A), MEERUT IS AGAI NST THE CBDT CIRCULAR. ITA-1068/DEL/2015 2 3. LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE A SSESSING OFFICER HAS TAXED THE AMOUNT WHICH WAS ADJUSTED AGAINS T PLOTS AND HAS WRONGLY NOT ALLOWED THE BENEFIT OF THE PROVISION OF SECTION 54F OF THE ACT TO THE ASSESSEE. HE SUBMITTED THAT THE ASSESSING OFFICE R AND THE LEARNED CIT(A) HAVE IGNORED THE CBDT CIRCULAR NO.47 1 WHICH WAS BINDING ON THE INCOME TAX DEPARTMENT. 4. LEARNED DR HAS RELIED ON THE ORDER OF THE ASSESSING OFFICER AND THE LEARNED CIT(A). 5. I HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE PERU SED THE ORDER OF THE AO AND THE LEARNED CIT(A). I FIND THA T IN THE FACTS OF THE CASE AS EXPLAINED BY THE LEARNED COUNSEL FOR THE ASSESSEE , IT SHALL BE IN THE INTEREST OF JUSTICE TO RESTORE THE ISSUES IN THE GRO UNDS OF APPEAL OF THE ASSESSEE TO THE FILE OF THE ASSESSING OFFICER WITH THE DIRECTION TO FRAME A DE NOVO ASSESSMENT IN ACCORDANCE WITH LAW AND GIVE A DEFINITE FINDING REGARDING APPLICABILITY OF THE PROVISION OF SECTION 54F TO THE IMPUGNED ADJUSTMENT AGAINST PLOTS AND ALSO TO FRAME TH E ASSESSMENT IN THE LIGHT OF THE CBDT CIRCULAR CITED BY THE ASSESSEE AND, IF APPLICABLE, TO DECIDE THE CASE ACCORDINGLY. I DIREC T ACCORDINGLY. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED F OR STATISTICAL PURPOSES. DECISION PRONOUNCED IN THE OPEN COURT ON 8 TH SEPTEMBER, 2015. SD/- (G. (G. (G. (G. C. GUPTA C. GUPTA C. GUPTA C. GUPTA ) )) ) VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VK. ITA-1068/DEL/2015 3 COPY FORWARDED TO: - 1. APPELLANT : SHRI MANOJ KUMAR, SHRI MANOJ KUMAR, SHRI MANOJ KUMAR, SHRI MANOJ KUMAR, 173, KASERU BUXER, MEERUT. 173, KASERU BUXER, MEERUT. 173, KASERU BUXER, MEERUT. 173, KASERU BUXER, MEERUT. 2. RESPONDENT : INCOME TAX INCOME TAX INCOME TAX INCOME TAX OFFICER, WARD OFFICER, WARD OFFICER, WARD OFFICER, WARD- -- -1(4), MEERUT. 1(4), MEERUT. 1(4), MEERUT. 1(4), MEERUT. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR