Makrand Uttamrao Pargaonkar by GPA holder Vaijnath Uttamrao Pargaonkar, Hyderabad, Hyderabad V. ITO, Ward-4(2), Hyderabad, Hyderabad

ITA 135/HYD/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5217 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 2 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB-B
• Assessment Year: 2007-2008
• Appeal Filed On: 30-01-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Sale consideration of property below Jantri Value
• Section: 143(3); 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD SMC BENCH : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S. GODA R A, JUDICIAL MEMBER ITA NO. 135 /HYD./20 17 ASSESSMENT YEAR: 20 07 - 08 SRI MAKRAND UTTAMRAO PARGAONKAR BY GPA - VS. ITO, WARD 4(2) HOLDER VAIJNATH UTTAMRAO PARGAONKAR HYDERABAD HYDERABAD [PAN: AQZPP5170D ] ITA NO. 13 6 /HYD./20 17 ASSESSMENT YEAR: 20 07 - 08 SMT.RAJANI GAJANAND PATWARI BY GPA - VS. ITO, WARD 4(2) HOLDER VAIJNATH UTTAMRAO PARGAONKAR HYDERABAD HYDERABAD [PAN: AQ MPP1008R ] ITA NO. 13 7 /HYD./20 17 ASSESSMENT YEAR: 20 07 - 08 SMT. SHOBHA JAYANT JATKAR BY GPA - VS. ITO, WARD 4(2) HOLDER VAIJNATH UTTAMRAO PARGAONKAR HYDERABAD HYDERABAD [PAN: A HYPJ8433F ] ITA NO. 138 /HYD./20 17 ASSESSMENT YEAR: 20 07 - 08 SHRI VIJAY UTTAMRAO PARGAONKAR BY GPA - VS. ITO, WARD 4(2) HOLDER VAIJNATH UTTAMRAO PARGAONKAR HYDERABAD HYDERABAD [PAN: A RDPP5164E ] (APPELLANT) (RESPONDENT) FOR ASSESSEE : NONE FOR REVENUE : SRI N. SRIKANTH, D.R. DATE OF HEARING : 24 /03/ 2021 DATE OF PRONOUNCEMENT : 26 /0 4 /2021 ITA NO S . 135 TO 138 /HYD/ 20 17 AY 20 07 - 08 MAKRAND UTTAMRAO PARGAONKAR AND OTHERS 2 O R D E R TH ESE FOUR ASSESSEE S APPEAL S FOR A.Y. 20 07 - 08 ARISE AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS) [CIT(A)] - 1 HYDERABADS ORDER S ; ALL DATED 26.10.2016 , PASSED IN CASE NO. 656 TO 659/ 201 6 - 17 IN PROCEEDINGS U/S 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961 [IN SHORT THE ACT]. CASE CALLED TWICE. NONE APPEARED ON BEHALF OF ASSESSEE S . THEY ARE ACCORDINGLY PROCEED ED EX PARTE. HEARD SHRI N.SRIKANTH, LEARNED DR REPRESENTING THE REVENUE . 2. COMING TO ASSESSEE S FIRST AND FOREMOST ARGUMENT THAT THE IMPUGNED REOPENING IS NOT SUSTAINABLE IN THE EYES OF LAW SINCE THE ASSESSING OFFICER HAS ISSUED SEC.148 NOTICE(S) BEYOND THE SPECIFIED PERIOD OF 4 YEARS FROM THE END OF THE RELEVANT ASSESSMENT YEAR(S) AND THEREFORE , HIT BY SEC.147(1) PROVISO, I FIND WITH THE ABLE ASSISTANCE OF LEARNED D EPARTMENTAL R EPRESENTATIVE THAT NONE OF THESE CASES INVOLVE SEC.143(3) PROCEEDINGS FORMING A CONDITION PRECEDENT SO AS TO MAKE THE FOREGOING PROVISO EXIGIBLE. THE ASSESSEES IDENTICAL LEGAL GROUND IN ALL THESE CASES STANDS DECLINED ACCORDINGLY. 3. NEXT IS THE ISSUE OF CORRECTNESS OF IDENTICAL SEC.50C ADDITION IN ALL THESE CASES . MR. SRIKANTH FAILS TO REBUT CLINCHI NG FACT THAT THE ASSESSING OFFICER HAS NOT MADE ANY RE F ERENCE TO THE DVO U/S 50C(2) OF THE ACT HELD AS MANDATORY IN SUNIL KUMAR AGARWAL VS. CIT (2014) 372 ITR 83 (CAL) EVEN IF THE TAX PAYER HAS NOT RAISED OBJECTIONS TO THIS EFFECT. I THEREFORE RESTORE ASSESSEES IDENTICAL LATTER SUBSTANTIVE GROUND BACK TO THE ASSESSING OFFICER FOR A FRESH ADJUDICATION AS PER LAW. THESE ASSESSEES APPEALS ARE PARTLY ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. A COPY OF THIS COMMON ORDER BE PL ACED IN THE RESPECTIVE CASE FILES. ORDER PRONOUNCED IN OPEN COURT ON 26 /0 4 /2021. SD/ - (S.S. GODARA) JUDICI AL MEMBER DATED: 26 TH APRIL, 2021 GMV ITA NO S . 135 TO 138 /HYD/ 20 17 AY 20 07 - 08 MAKRAND UTTAMRAO PARGAONKAR AND OTHERS 3 COPY OF ORDER FORWARDED TO: 1 . ( I ) SRI UTTAMRAO PARGAONKAR , C/O DJ ADHIA , 4 - 1 - 2/B/1, TILAK ROAD, HYDERABAD 500 012, TEL ANGANA ; ( II ) MS. RAJANI GAJANAND PATWARI C/O DJ ADHIA , 4 - 1 - 2/B/1, TILAK ROAD, HYDERABAD 500 012, TELANGANA ; (III) MS. SHOBHA JAYANT JATKAR C/O DJ ADHIA , 4 - 1 - 2/B/1, TILAK ROAD, HYDERABAD 500 012, TELANGANA ; (IV) SRI VIJAY UTTAMRAO PARGAONKAR C/O DJ ADHIA , 4 - 1 - 2/B/1, TILAK ROAD, HYDERABAD 500 012, TELANGANA 2. ITO, WARD 4(2) , NALGONDA 3. JCIT, RANGE 4 , HYDERABAD 4. CIT(A) - 1 , HYDERABAD. 5. PR.CIT - 1 , HYDERABAD 6 D.R. ITAT HYDERABAD 7. GUARD FILE