Nitin Kibe, L/h. of Late Shri Padmakar Kibe, , Pune V. Assistant Commissioner of Income-tax, Circle - 9, , Pune

ITA 1482/PUN/2017

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 0487 (ITAT-PUNE)
• Duration Of Justice: 4 year(s) 11 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-06-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 11-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Cost of acquisition
• Section: 143(3)

Judgement Text

आयकर अपीऱीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI S.S.GODARA, JM AND SHRI DR. DIPAK P. RIPOTE, AM आयकर अपीऱ सं. / ITA No.1482/PUN/2017 ननधधारण वषा / Assessment Year : 2006-07 Late Padmakar Kibe, L/h Shri Nitin Kibe, C/o Poona Poultry Products, Village Gahunje, Dehu Road Pune PAN : ABAPK2700Q .......अपऩलधथी / Appellant बनधम / V/s. ACIT, Cir-9, Pune ......प्रत्यथी / Respondent Assessee by : Shri Nikhil Pathak Revenue by : Shri S. P. Walimbe सपनवधई की तधरऩख / Date of Hearing : 05.05.2022 घोषणध की तधरऩख / Date of Pronouncement : 08.06.2022 आदेश / ORDER PER S. S. GODARA, JM : 1. This assessee’s appeal for A.Y. 2006-07 is directed against the CIT(A)-9, Pune’s order dated 23/02/2017 passed in case No. PN/CIT(A)-6/ACIT, Cir- 9/148/2015-16/417 involving proceeding u/s. 143(3) r.w.s. 254 of the Income Tax Act, 1961 ; in short "the Act”. Heard both the parties. Case file perused. 2 ITA No.1482/PUN/2017 Late Padmakar Kibe, L/h Shri Nitin Kibe, 2. Coming to the assessee’s sole substantive grievance raised in the instant appeal that both the learned lower authorities have erred in law and on facts in adjudicating the cost of acquisition of land in the relevant previous year involving Rs.12,58,403/- as against the correct claim of Rs.16,22,474/- , we note at the outset there is hardly any need for us to delve deeper in the relevant factual matrix. 3. Suffice to say, that this second round of proceeding between the parties before the tribunal. Learned co-ordinating bench on 25.06.2013 had restored the issue back to the Assessing Officer. The assessee’s case before us in light of these detailed written submission on page 10 of the CIT(A)’s order is that learned authorities have not adopted the correct cost of acquisition of all the survey nos. of the land sold in the relevant previous year. Face with the situation, we deem it appropriate to restore with instant issue back to the Assessing Officer subject to the condition that it shall be bounden duty of the assessee only to produce record all the correspondent details of the survey nos. sold with cost of acquisition; at his risk and responsibility only within three effective opportunities in consequences proceedings. Ordered accordingly. 4. This assessee’s appeal is allowed for stastical purposes in above terms. Order pronounced in the Open Court on this 8 th day of June, 2022. Sd/- Sd/- s (DR.DIPAK P.RIPOTE) (S.S. GODARA) लेखध सदस्य/ ACCOUNTANT MEMBER न्यधनयक सदस्य/JUDICIAL MEMBER पपणे / Pune; ददनधांक / Dated : 8 th June, 2022. Ashwini 3 ITA No.1482/PUN/2017 Late Padmakar Kibe, L/h Shri Nitin Kibe, आदेश की प्रनतनलनप अग्रेनषत / Copy of the Order forwarded to : 1. अपऩलधथी / The Appellant. 2. प्रत्यथी / The Respondent. 3. The CIT(A)-9, Pune. 4. The Pr.CIT-5, Pune. 5. नवभधगऩय प्रनतनननध, आयकर अपऩलऩय अनधकरण, “ए” बेंच, पपणे / DR, ITAT, “A” Bench, Pune. 6. गधर्ा फ़धइल / Guard File. आदेशधनपसधर / BY ORDER, // True Copy // Senior Private Secretary आयकर अपऩलऩय अनधकरण, पपणे / ITAT, Pune. 4 ITA No.1482/PUN/2017 Late Padmakar Kibe, L/h Shri Nitin Kibe, S.No. Details Date Initials 1 Draft dictated on 06.05.2022 2 Draft placed before author 27.05.2022 3 Draft proposed & placed before the Second Member 4 Draft discussed/approved by Second Member 5 Approved Draft comes to the Sr. PS/PS 6 Kept for pronouncement on 7 Date of uploading of Order 8 File sent to Bench Clerk 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order