Dr Balaji Pallewar, Adilabad, Hyderabad V. ITO, Ward-1, Adilabad, Adilabad

ITA 1169/HYD/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 6040 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-11-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 27-10-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 15-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A SITARAMA RAO
• Assessee Lawyers: A V RAGHURAM
• Keywords: Valuation report

Judgement Text

ITA NOS 1169 AND 1170 OF 2015 DR. BALAJI PALLEWAR ADILABAD PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A (SMC) BENCH, HYDERABAD BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NOS.1169 & 1170/HYD/2015 (ASSESSMENT YEARS: 2007-08 & 2008-09) DR. BALAJI PALLEWAR ADILABAD PAN: AAOPP 9970 A VS INCOME TAX OFFICER WARD-1 ADILABAD FOR ASSESSEE : SHRI A.V. RAGHURAM FOR REVENUE : SHRI A. SITARAMA RAO, DR O R D E R BOTH THE APPEALS ARE FILED BY THE ASSESSEE FOR THE A.Y 2007-08 DIRECTED AGAINST THE ORDER OF THE CIT (A)-5 , HYDERABAD DATED 29.05.2015. THE DELAY OF 14 DAYS IN FILING TH E APPEAL BY THE ASSESSEE IS CONDONED AS I AM CONVINCED THAT THE REA SONS FOR DELAY IN FILING THE APPEALS FURNISHED BY THE ASSESSEE ARE BONAFIDE. THESE ARE SUPPORTED BY AN AFFIDAVIT. I ADMIT THE APPEAL. 2. ON MERITS, AFTER HEARING THE RIVAL CONTENTIONS, I FIND THAT THIS IS A CASE WHERE AN ADDITION HAS BEEN MADE BASED ON THE VALUATION REPORT FROM THE DVO. AFTER THE LEARNED CI T (A) HAS GIVEN PART RELIEF, AN ADDITION OF RS. 2,54,254 SURVIVES F OR THE A.Y 2007- 08 AND RS. 4,33,500 SURVIVES FOR THE A.Y 2008-09. TH E ASSESSEE IN THIS CASE SUBMITTED THAT THE BUILDING IN QUESTION, WAS CONSTRUCTED IN ADILABAD AND WHEREAS THE DVO ADOPTED THE RATES OF NIZAMABAD. HE PRODUCED A REPORT OF THE DVO IN TH E CASE OF DR. DATE OF HEARING : 11.11.2016 DATE OF PRONOUNCEMENT : 11.11.2016 ITA NOS 1169 AND 1170 OF 2015 DR. BALAJI PALLEWAR ADILABAD PAGE 2 OF 3 SHOBHA PAWAR, WHEREIN THE RATES OF ADILABAD WERE AD OPTED AND FILED CHART SHOWING THAT IF THESE RATES ARE ADOPTED , THE DIFFERENCE IN VALUATION WOULD REDUCE FURTHER BY RS.5,13,502. T HE LEARNED DR, THOUGH NOT LEAVING THIS GROUND WANTS THIS REPOR T OF DR. SHOBHA PAWAR TO BE SENT TO THE AO FOR VERIFICATION AND GRANT OF CONSEQUENTIAL RELIEF. 3. I HAVE GONE THROUGH THESE VALUATION REPORTS. I D O NOT SEE ANY REASON WHY THESE TWO APPEALS SHOULD BE SENT BACK TO THE AO FOR VERIFICATION OF THE VALUATION RATES APPLIED IN THE CASE OF DR. SHOBHA PAWAR. AS THE BUILDING IS CONSTRUCTED IN ADI LABAD, THE RATES OF ADILABAD SHOULD HAVE BEEN ADOPTED BY THE D VO. I THEREFORE, ADOPT THE SAME. WHEN THESE RATES ARE APP LIED, THE DIFFERENCE IN VALUATION IS WORKING OUT TO LESS THAN RS.90,000/-. AS THIS DIFFERENCE IN VALUATION IS LESS THAN 10%, NO AD DITION IS WARRANTED. 4. IN THE RESULT, ADDITIONS MADE FOR BOTH THE A.YS T O THE EXTENT SUSTAINED BY THE LEARNED CIT (A) ARE DELETED AND THE APPEALS ARE ALLOWED. 5. IN THE RESULT, BOTH THE APPEALS ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH NOVEMBER, 2016. SD/- (J. SUDHAKAR REDDY) ACCOUNTANT MEMBER HYDERABAD, DATED 11 TH NOVEMBER, 2016. VINODAN/SPS ITA NOS 1169 AND 1170 OF 2015 DR. BALAJI PALLEWAR ADILABAD PAGE 3 OF 3 COPY TO: 1 SHRI CH. PARTHASARATHY & CO., 1 ST FLOOR, SOWBHAGYA AVENUE, STREET NO.1 ASHOKNAGAR, HYDERABAD 500 020 2 INCOME TAX OFFICER WARD 1 AAYAKAR BHAVAN, VEERABH ADRANAGAR, SANGAREDDY, MEDAK DISTT. 502001 3 CIT (A)-2 HYDERABAD 4 PR. CIT 2 HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER