Amit Kumar Sinha, Palamau V. DCIT,Circle-3, Ranchi

ITA 149/RAN/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 8296 (ITAT-RANCHI)
• Duration Of Justice: 11 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-03-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 29-03-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: C S PANDEY
• Keywords: Sale consideration of property below Jantri Value
• Section: 56(2)(vii)(b); 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL: RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A NO.149/RAN/2019 ASSESSMENT YEAR: 2014-15 AMIT KUMAR SINHA NEAR POLICE LINE, SHANTIPURI, DALTONGANJ, PALAMAU, JHARKHAND- 822101. VS. DCIT, CIRCLE-3, RANCHI PAN/GIR NO. : BTTPS7121K ( APPELL ANT ) .. (RESPONDENT) APPELLANT BY SHRI C. S. PANDEY, ADVOCATE RESPONDENT BY SHRI AJAY KUMAR, ADDL. CIT, DR DATE OF HEARING 05.03.2020 DATE OF PRONOUNCEMENT 05.03.2020 O R D E R S. S. GODARA(ORAL): THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS), JHARKHAND DATED 19.11.2018 PASSED IN CASE NO.10063/RANCHI/2017-18 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CHALLENGES CORRECTNESS OF BOTH THE LEARNED LOWER AUTHORITIES ACTION ADDING AN AMOUNT OF RS.19,75,000/- BEING DIFFERENCE BETWEEN ACTUAL PURCHASE PRICE AND STAMP VALUATION INVOLVING SUMS OF RS.14,00,000/- AND 33,75,000/-; RESPECTIVELY. IT EMERGES FROM A PERUSAL OF THE CASE FILE THAT NEITHER OF THE LOWER AUTHORITIES AND MORE PARTICULARLY THE ASSESSING OFFICER NEVER MADE ANY REFERENCE TO THE DVO IN TUNE WITH SECTION 56(2)(VII)(B) 3 RD PROVISO READ WITH U/S 50C(2) OF THE ACT. HONBLE CALCUTTA HIGH COURTS JUDGMENT IN SUNIL KUMAR AGARWAL VS. CIT (2016) 372 ITR 83 (CAL) HOLDS THAT THIS KIND OF A REFERENCE IS VERY MUCH MANDATORY MADE EVEN IF THE ASSESSEE DOES NOT RAISE ANY I.T.A NO.149/RAN/2019 AMIT KUMAR SINHA 2 SUCH PLEA. I THEREFORE RESTORE THE INSTANT SOLE ISSUE BACK TO THE ASSESSING OFFICER FOR HIS FRESH ADJUDICATION AS PER LAW AFTER MAKING NECESSARY REFERENCE TO THE DVO. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. ORDER IS PRONOUNCED IN THE OPEN COURT ON 05.03.2020. SD/- (S. S. GODARA) JUDICIAL MEMBER DATED: 05.03.2020. RS COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) - 5. THE DR, ITAT, RANCHI 6. GUARD FILE BY ORDER SR. P.S., ITAT, RANCHI (ON TOUR)