ITO (Central)-1, Nashik V. Sh. nikesh P. Shah, Nashik

ITA 1193/PUN/2010

• Counselvise Citation: 119324514 RSA 2010
• Duration Of Justice: 1 year(s) 5 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 23-02-2012
• Assessment Year: 2004-2005
• Appeal Filed On: 31-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K SINGH
• Assessee Lawyers: V L JAIN
• Keywords: Business income
• Section: 143(3); 153A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMB ER AND SHRI G.S. PANNU, ACCOUNTANT MEMBER I.T.A. NO. 1193/PN/10 (ASSTT. YEAR 2004-05) INCOME-TAX OFFICER, . . APPELLANT (CENTRAL)-I, NASHIK VS. SHRI NIKESH P SHAH, .. RESPONDENT 7 JAYANTI SOCIETY, TILAK WADI, NASHIK APPELLANT BY: SHR I S K SINGH RESPONDENT BY: SHRI V L JAIN DATE OF HEARING: 23.02.2012 DATE OF PRONOUNCEMENT: 28.02.2012 ORDER PER G.S. PANNU, AM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE OR DER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)I, NASHIK DATED 17.6 .2010 WHICH, IN TURN, HAS ARISEN FROM THE ORDER OF THE ASSESSING OFFICER DATED 29.12.2009 PASSED UNDER SECTION 143(3) R.W.S. 153A OF THE INCOME-TAX ACT, 1961 (IN SHORT THE ACT), PERTAINING TO THE ASSESSMENT YEARS 2004-05. 2. THE DISPUTE RAISED IN THIS APPEAL RELATES TO THE ADD ITION OF RS 10,32,156/- BY TREATING PROFITS ON SALE OF AGRICULTURA L LAND AS BUSINESS INCOME. AT THE VERY OUTSET, THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT IDENTICAL ADDITION MADE BY THE REVENUE IN AN ASSESSMENT MADE UNDER SECTION 143(3) R.W.S. 148 OF THE ACT WAS SUBJECT-MATTER OF CONSID ERATION BY OUR CO- ORDINATE BENCH IN ASSESSEES CASE, AND THE TRIBUNAL VIDE ITS ORDER DATED 30.6.2011 IN ITA NO 848/PN/09 FOR THE SAME ASSESSMENT Y EAR 2004-05 HAS AFFIRMED THE ACTION OF THE COMMISSIONER OF INCOME-TAX ( APPEALS) IN TREATING THE AGRICULTURAL LANDS HELD BY THE ASSESSEE AS INVESTMENT AND SURPLUS ON THE SALE OF AS NOT TAXABLE AS BUSINESS INCOME. IT WAS, THEREFO RE, SUBMITTED THAT THE IMPUGNED ADDITION MADE BY THE ASSESSING OFFICER IN AN A SSESSMENT FRAMED UNDER SECTION 153A R.W.S. 143(3) OF THE ACT IS ALSO LIABL E TO BE DELETED. THE LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT DISPUTE T HE FACT-SITUATION POINTED OUT BY THE LEARNED COUNSEL FOR THE ASSESSEE. 3. IN VIEW OF THE ADMITTED POSITION, WE DO NOT FIND ANY SUBSTANCE IN THE REVENUES APPEAL. THE POINT AT ISSUE ALREADY STANDS DECID ED AGAINST THE REVENUE AND IN FAVOUR OF THE ASSESSEE BY THE AFORESAID ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE FOR THE SAME ASSESSMENT YEAR 2004-0 5. ACCORDINGLY, WE AFFIRM THE FINDINGS OF THE COMMISSIONER OF INCOME-T AX (APPEALS) AND THE. REVENUES APPEAL FAILS. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. DECISION PRONOUNCED IN THE OPEN COURT ON THIS 28 TH DAY OF FEBRUARY, 2012 SD/- SD/- (SHAILENDRA KUMAR YADAV) JUDICIAL MEMBER (G.S. PANNU) ACCOUNTANT MEMBER PUNE: DATED: 28 TH FEBRUARY, 2012 B COPY OF THE ORDER FORWARDED TO : 1. NIKESH P SHAH, NASHIK 2. ITO CEN. I NASHIK 3. THE CIT(A)-I NASHIK 4. THE CIT (CEN) NAGPUR 5. THE D.R, B BENCH, PUNE 6. GUARD FILE TRUE COPY BY ORDER SR. PS, ITAT, PUNE BENCHES, PUNE