Mirza Eraj Atif , Hyderabad V. Income Tax Officer, Ward-7(1), Hyderabad

ITA 1234/Hyd/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 8418 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Assessment Year: 2008-2009
• Appeal Filed On: 11-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V APARNA
• Assessee Lawyers: S RAMA RAO
• Keywords: Sale consideration of property below Jantri Value; Set aside
• Section: 50C; 148

Judgement Text

ITA NO 1234 OF 2018 MIRZA ERAJ ATIF HYDERABAD. PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO.1234/HYD/2018 (ASSESSMENT YEAR: 2008-09) SHRI MIRZA ERAJ ATIF HYDERABAD PAN: AEYPA8226Q VS INCOME TAX OFFICER WARD 7(1) HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI S. RAMA RAO FOR REVENUE : SMT. V. APARNA, DR O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS ASSESSEES APPEAL FOR THE A.Y 2008-09 AGAIN ST THE ORDER OF THE CIT (A)-3, HYDERABAD, DATED 10.04. 2018. 2. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE, A N INDIVIDUAL, HAD SOLD TWO PROPERTIES VIDE DOCUMENT N O.2712, DATED 31.07.2007 AND DOCUMENT NO.2726, DATED 31.07.2007 F OR A CONSIDERATION OF RS.10,46,000/- AND RS.6,30,000/- R ESPECTIVELY. THE STAMP VALUATION AUTHORITY HOWEVER, ASSESSED THE VALUE OF THE PROPERTY AT RS.20,46,000/- AND RS.12,12,600/- RESPE CTIVELY. THE AO OBSERVED THAT THE ASSESSEE HAS NOT ADMITTED THE CAPITAL GAINS ON THESE TRANSACTIONS CONSIDERING THE SALE CONSIDER ATION AS PER THE PROVISIONS OF SECTION 50C OF THE ACT. THEREFORE , HE ISSUED A NOTICE U/S 148 OF THE ACT AND ACCORDINGLY BROUGHT T HE CAPITAL GAINS TO TAX BY APPLYING THE PROVISIONS OF SECTION 50C OF THE ACT. DATE OF HEARING : 08.07.2019 DATE OF PRONOUNCEMENT: 17.07.2019 ITA NO 1234 OF 2018 MIRZA ERAJ ATIF HYDERABAD. PAGE 2 OF 3 AGGRIEVED BY THE SAME, THE ASSESSEE PREFERRED AN AP PEAL BEFORE THE CIT (A) BY FILING THE APPEAL MANUALLY. THE CIT (A) DISMISSED THE APPEAL HOLDING THAT THE ASSESSEE IS REQUIRED TO FILE THE APPEAL ELECTRONICALLY. AGGRIEVED BY THE ORDER OF THE CIT ( A), THE ASSESSEE IS IN APPEAL BEFORE US. 3. WE FIND THAT ELECTRONIC FILING OF THE APPEAL HAS BECOME MANDATORY W.E.F. 1.3.2016 AND VIDE CBDT CIRCULAR NO .20/2016, THE PERIOD WAS EXTENDED UPTO 15.6.2016. THE ASSESSE E HAS FILED THE APPEAL ON 12.4.2016 WHEREAS THE CIT (A) HAS DIS MISSED THE APPEAL OF THE ASSESSEE ON 10.4.2018. SINCE NON-FILI NG OF THE APPEAL ELECTRONICALLY IS ONLY A PROCEDURAL DEFECT, THE CIT (A) OUGHT TO HAVE REQUIRED THE ASSESSEE TO FILE THE APPEAL EL ECTRONICALLY, BUT INSTEAD HE HAS DISMISSED THE APPEAL IN LIMINI. THER EFORE, WE DEEM IT FIT AND PROPER TO SET ASIDE THE ORDER OF THE CIT (A) AND DIRECT THE ASSESSEE TO FILE THE APPEAL ELECTRONICALLY WITHIN 1 5 DAYS FROM THE DATE OF RECEIPT OF THIS ORDER AND THE CIT (A) SHALL CONSIDER IT TO BE IN TIME. ON SUCH FILING OF THE APPEAL ELECTRONICALL Y, THE CIT (A) SHALL DECIDE THE MERITS OF THE APPEAL IN ACCORDANCE WITH LAW AFTER GIVING THE ASSESSEE AN OPPORTUNITY OF HEARING. 4. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS A LLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH JULY, 2019. SD/- SD/- (S.RIFAUR RAHMAN) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 17 TH JULY, 2019. VINODAN/SPS ITA NO 1234 OF 2018 MIRZA ERAJ ATIF HYDERABAD. PAGE 3 OF 3 COPY TO: 1 SHRI MIRZA ERAJ ATIF, H.NO.12-2-786/12/D MIDWAY C OLONY, MEHDIPATNAM, HYDERABAD 500028 2 ITO WARD 7(1) SIGNATURE TOWERS, KONDAPUR, HYDERAB AD 3 CIT (A)-3 HYDERABAD 4 PR. CIT 3 HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER