Teegala Manju Latha , Hyderabad V. Income Tax Officer, Ward-14(2), Hyderabad

ITA 1588/Hyd/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 2418 (ITAT-HYDERABAD)
• Duration Of Justice: 7 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 12-03-2019
• Assessment Year: 2010-2011
• Appeal Filed On: 24-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: RAMAMURTY T
• Keywords: Sale consideration of property below Jantri Value
• Section: 147; 148; 50C; 143(1)

Judgement Text

ITA NO 1588 OF 2018 TEEGALA MANJU LATHA HYDERABAD. PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B SMC BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER ITA NO.1588/HYD/2018 (ASSESSMENT YEAR: 2010-11) SMT. TEEGALA MANJU LATHA HYDERABAD PAN:ACIPT8826D VS INCOME TAX OFFICER 1-62 MEERPET VILLAGE, SAROOR NAGAR MANDAL, HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI RAMAMURTY T FOR REVENUE : SHRI SOLGY JOSE T.KOTTARAM,DR O R D E R THIS IS ASSESSEES APPEAL FOR THE A.Y 2010-11 AGAIN ST THE ORDER OF THE CIT (A)-6, HYDERABAD, DATED 23.05. 2018. 2. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE, A N INDIVIDUAL, FILED HER RETURN OF INCOME FOR THE A.Y 2010-11 ON 31.07.2010 DECLARING AN INCOME OF RS.2,21,760/- AND THE SAME WAS PROCESSED U/S 143(1) OF THE ACT. SUBSEQUENTLY, THE AO NOTICED THAT, THE ASSESSEE ALONG WITH HER SON, SOLD AN IMMOVABLE PROPERTY FOR A CONSIDERATION OF RS.50.00 LAKHS, EVE N THOUGH THE SRO VALUE OF THE PROPERTY WAS RS.52,85,000/-. HE AL SO NOTICED THAT THE ASSESSEE HAS NOT DISCLOSED THE CAPITAL GAI N AS PER SECTION 50C. THEREFORE, HE REOPENED THE ASSESSMENT U/S 147 OF THE ACT DATE OF HEARING : 12.03.2019 DATE OF PRONOUNCEMENT : 13.03.2019 ITA NO 1588 OF 2018 TEEGALA MANJU LATHA HYDERABAD. PAGE 2 OF 3 AND A NOTICE U/S 148 WAS BEEN ISSUED AND THE ASSESS EE WAS ASKED TO SHOW CAUSE AS TO WHY THE VALUE SHOULD NOT BE ADOPTED AT RS.52,85,000/-. THE ASSESSEE SUBMITTED THAT SHE HAD PURCHASED THE PROPERTY IN SEMI-FINISHED CONDITION AND HAD INC URRED A FURTHER SUM OF RS.20.00 LAKHS TO GET THE FLAT FINIS HED SO AS TO MAKE IT HABITABLE, HOWEVER, SHE DID NOT SUBMIT ANY OBJECTION WITH REGARD TO THE VALUE ADOPTED BY THE REGISTRATION AUT HORITIES. THE AO, THUS ADOPTED THE VALUE U/S 50C OF THE ACT AND T HE CAPITAL GAIN WAS ACCORDINGLY BROUGHT TO TAX. 3. AGGRIEVED, THE ASSESSEE PREFERRED AN APPEAL BEFO RE THE CIT (A), WHO DISMISSED THE SAME BOTH FOR NON-APPEAR ANCE OF THE ASSESSEE AND ALSO ON MERITS ON THE BASIS OF THE MAT ERIAL AVAILABLE ON RECORD. THE LEARNED COUNSEL FOR THE ASSESSEE SUB MITTED THAT THE NOTICE OF HEARING ON 8.5.2018 WAS SERVED ON THE ASSESSEE ONLY ON 7.5.2018 AND THEREAFTER, DATE FOR HEARING WAS 22 .05.2018 ON WHICH DATE, DUE TO SOME INCONVENIENCE THE ASSESSEE COULD NOT APPEAR BEFORE THE CIT (A) BUT THE CIT (A) HAS DISPO SED OF THE APPEAL EX-PARTE THE ASSESSEE ON THE VERY NEXT DAY. HE SUBMITTED THAT HE HAS EVIDENCE TO SHOW THAT THE VALUE OF THE PROPERTY WAS RS.50.0 LAKHS DUE TO CERTAIN PROBLEMS IN THE PROPER TY. HE PRAYED FOR REMAND OF THE ISSUE TO THE FILE OF THE CIT (A). 4. THE LEARNED DR WAS ALSO HEARD. I FIND THAT ONLY THREE DATES WERE GIVEN BY THE CIT (A) FOR THE ASSESSEE TO APPEAR AND THE NOTICE OF HEARING FOR THE FIRST TWO DATES WAS NOT S ERVED ON THE ASSESSEE PROPERLY. THEREFORE, CONSIDERING THAT THE CIT (A) HAD DECIDED THE APPEAL EX-PARTE THE ASSESSEE, I DEEM IT FIT AND PROPER ITA NO 1588 OF 2018 TEEGALA MANJU LATHA HYDERABAD. PAGE 3 OF 3 TO REMAND THE ISSUE TO THE FILE OF THE CIT (A) WITH A DIRECTION TO GIVE THE ASSESSEE AN OPPORTUNITY TO PRESENT ITS CAS E ON MERITS. THE APPEAL IS THEREFORE, TREATED AS ALLOWED FOR STA TISTICAL PURPOSES. 5. IN THE RESULT, APPEAL IS TREATED AS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH MARCH, 2019. SD/- (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 13 TH MARCH, 2019. VINODAN/SPS COPY TO: 1 SMT. TEEGALA MANJULATHA, 1-62 MEERPET VILLAGE, SA ROOORNAGAR MANDAL, MEERPET HYDERABAD 500097 2 ITO WARD 14(2) HYDERABAD 3 CIT (A)-6 HYDERABAD 4 PR. CIT 6 HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER