ACIT, Hyderabad V. Sri Mohd Moinuddin, R.R.Dist

ITA 1449/HYD/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 59421 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-03-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 23-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B V PRASAD REDDY
• Assessee Lawyers: K A SAI PRASAD
• Section: 143(3); 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITA NO.1449/HYD/10 ASSTT. YEAR: 2008-09 ACIT, CENTRAL CIRCLE - 6, HYDERABAD. VS SRI MOHD. MOINUDDIN, RANGA REDDY DISTRICT. (PAN:ARMPN 9089 Q) APPELLANT RESPONDENT APPELLANT BY : SRI B.V. PRASAD REDDY RESPONDENT BY : SRI K.A. SAI PRASAD DATE OF HEARING : 22-03-2012. DATE OF PRONOUNCEMENT : 30-03-2012. ORDER PER SAKTIJIT DEY, J.M. THIS IS AN APPEAL BY THE REVENUE AGAINST THE ORDE R DATED 8-9-2010 OF THE CIT (A)-I, HYDERABAD PASSED I N ITA NO.1006/CC-6,HYD/CIT(A)-I/09-10 PERTAINING TO THE ASSESSMENT YEAR 2008-09. 2. THE REVENUE HAS FILED THE APPEAL CHALLENGING THE DELETION OF AMOUNT OF RS.16,50,000/-,RS.11,66,666/- AND RS.65,000/- RECEIVED AS ADVANCES FROM DIFFERENT PAR TIES FOR SALE OF LAND. ITA NOS.1449/HYD/2010 SRI MOHD. MOINUDDIN, RR DISTRICT. =============================== 2 3. IN THE COURSE OF ASSESSMENT PROCEEDINGS UNDER SECTION 143(3) READ WITH SECTION 148 OF THE ACT, TH E AO FOUND THAT THE ASSESSEE HAD RECEIVED AN AMOUNT OF RS.16,50,000 FROM RADHA REALTY CORPORATION AS ADVAN CE IN CONNECTION WITH THE SALE OF LAND DURING THE FINA NCIAL YEAR 2004-05 AND THE SAME LANDS WERE AGAIN SOLD TO DLF COMPANY DURING THE PREVIOUS YEAR RELEVANT TO THE ASSESSMENT YEAR 2008-09. THE AO TREATED THE ADVANCE RECEIVED IN THE YEAR 2004-05 AS THE ASSESSEES INCO ME FOR THE ASSTT. YEAR 2008-09. SIMILARLY, AMOUNTS OF RS. RS.11,66,666/- WAS RECEIVED FROM SRI MUTHYAM REDDY AND RS.65,000/- FROM SRI JAGAT SINGH TOWARDS ADVANC E IN CONNECTION WITH SALE OF LAND DURING FINANCIAL YEAR 2004-05 WERE ADDED TO THE TOTAL INCOME FOR ASST. YEAR 2008- 09. THE ASSESSEE CHALLENGED THE ADDITIONS MADE BY THE A O BY FILING AN APPEAL BEFORE THE CIT (A). ON APPEAL, TH E CIT (A) FOUND THAT SIMILAR ADDITIONS WERE ALSO MADE IN CASE OF SOME OTHER FAMILY MEMBERS OF THE ASSESSEE AND TH E ADDITIONS WERE CHALLENGED BY THEM. THE CIT (A) FOL LOWING HIS OWN ORDER PASSED EARLIER ON IDENTICAL ISSUE IN CASE OF SRI MOHD. USUMUDDIN HELD THAT THE AMOUNT RECEIVED B Y THE ASSESSEE IN THE FINANCIAL YEAR 2004-05 CANNOT B E TAXED IN THE ASSESSMENT YEAR 2008-09. THE CIT (A) HAD FURTHER HELD THAT THE EARLIER TRANSACTION WAS A DIF FERENT TRANSACTION THAN THE ONE WITH DLF COMPANY. 4. WE HAVE HEARD RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. WE FIND THAT THE ISSUE IS COVER ED BY AN ORDER PASSED BY THE CO-ORDINATE BENCH OF THIS TR IBUNAL IN ITA NOS. 1464/HYD/2010 AND OTHER GROUP DATED 10- 2- 2012 WHEREIN THE ITAT, HYDERABAD BENCH HAS UPHELD T HE ITA NOS.1449/HYD/2010 SRI MOHD. MOINUDDIN, RR DISTRICT. =============================== 3 DECISION OF THE CIT (A) THAT THE ADVANCES RECEIVED IN AN EARLIER FINANCIAL YEAR FOR A DIFFERENT TRANSACTION THAN THE ONE WITH DLF CANNOT BE ADDED IN THE YEAR UNDER CONSIDERATION. IN THE AFORESAID VIEW OF THE MATTER , FOLLOWING THE VIEW TAKEN BY THE CO-ORDINATE BENCH O F THE TRIBUNAL MENTIONED SUPRA, WE REJECT THE GROUNDS RAI SED BY THE REVENUE. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE COURT ON 30 -03-2012. SD/- SD/- (CHANDRA POOJARI) ACCOUNTANT MEMBER SD/- (SAKTIJIT DEY) JUDICIAL MEMBER DATED THE 30 TH MARCH, 2012. COPY FORWARDED TO: 1. ACIT, CENTRAL CIR-6,6, HYDERABAD. 2. SRI MOHD. MOINUDDIN, 1-46, NARSINGHI VILLAGE, RAJENDRA NAGAR MANDAL, RR DISTRICT. 3. CIT (A)-I, HYDERABAD. 4. THE CIT CONCERNED, HYDERABAD 5. THE DR, ITAT, HYDERABAD JMR* ITA NOS.1449/HYD/2010 SRI MOHD. MOINUDDIN, RR DISTRICT. =============================== 4 ITA NOS.1449/HYD/2010 SRI MOHD. MOINUDDIN, RR DISTRICT. =============================== 5