V.K Bharathi , Bangalore V. Income Tax Officer Ward-3(2)(4), Bangalore

ITA 189/BANG/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4126 (ITAT-BANGALORE)
• Duration Of Justice: 3 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 01-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PALANI KUMAR
• Assessee Lawyers: B S BALACHANDRAN
• Keywords: Sale consideration of property below Jantri Value
• Section: 50C; 260A; 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH SMC-B, BANGALORE BEFORE SHRI A.K.GARODIA, ACCOUNANT MEMBER ITA NO. 189 (BANG) 2019 (ASSESSMENT YEAR : 2012 13) SMT. V. K. BHARATHI, APPELLANT ROOM NO. 732, 7 TH FLOOR, BMTC BUILDING, 80 FEET ROAD, KORAMANGALA, BANGALORE 560095. PAN. AHSPB9784H VS ITO WARD 3 (2) (4), RESPONDENT BANGALORE. ASSESSEE BY : SHRI B. S. BALACHANDRAN, ADVOCATE REVENUE BY : SHRI PALANI KUMAR, ADDL. CIT DR DATE OF HEARING : 01-05-2019 DATE OF PRONOUNCEMENT : 08-05-2019 O R D E R PER A. K. GARODIA, A.M.: THIS APPEAL IS FILED BY THE ASSESSEE AND IT IS DIRECTED AGAINST THE ORDER OF CIT (A) 3 BENGALURU DATED 30.11.2018 FOR A. Y. 2012 13. 2. THE ASSESSEE HAS RAISED AS MANY AS 6 GROUNDS BUT ONLY ONE GRIEVANCE OF THE ASSESSEE IS ABOUT ADDITION OF RS. 7.50 LACS BY INVOKING THE PROVISIONS OF SECTION 50C OF THE I T ACT IN THE CONSEQUENTIAL ORDER PASSED BY THE AO AFTER THE REVISIONARY ORDER PASSED BY THE CIT U/S 263 OF THE I T ACT ON 28.03.2017. 3. AT THE VERY OUTSET, IT WAS SUBMITTED BY THE LEARNED AR OF THE ASSESSEE THAT AGAINST THE ORDER OF CIT U/S 263 OF THE I T ACT ON 28.03.2017, THE ASSESSEE FILED AN APPEAL BEFORE THE TRIBUNAL BUT THE SAME WAS DISMISSED BY THE TRIBUNAL IN ITA NO. 1174/BANG/2017 DATED 13.09.2017. HE SUBMITTED A COPY OF THIS TRIBUNAL ORDER. HE ALSO SUBMITTED THAT AGAINST THIS TRIBUNAL ORDER, THE ASSESSEE FILED AN APPEAL U/S 260A BEFORE HONBLE KARNATAKA HIGH COURT AND THIS APPEAL IN ITA NO. 32 OF 2018 WAS ALTHOUGH DISMISSED ON DATED 11.12.2018 BUT IT WAS HELD BY HONBLE KARNATAKA HIGH COURT THAT IN THE ORDER PASSED BY CIT U/S 263 THE MATTER WAS SENT BACK TO THE AO FOR FRESH DECISION BUT CERTAIN OBSERVATIONS OF FACT HAS BEEN MADE. HE POINTED OUT THAT IN THE LIGHT OF THESE FACTS, IT IS HELD BY HONBLE KARNATAKA HIGH COURT THAT WHEN THE MATTER IS SENT BACK FOR RE ITA NO. 189(BANG)2019 2 DETERMINATION TO THE AO, THE ISSUES ARE TO BE KEPT OPEN. THE HONBLE KARNATAKA HIGH COURT DIRECTED THE AO TO ACCEPT THE DOCUMENTS OF THE ASSESSEE AND THEN CONSIDER THE MATTER. HE POINTED OUT THAT THIS JUDGMENT OF HONBLE KARNATAKA HIGH COURT IS DATED 11.12.2018 BUT THE CONSEQUENTIAL ASSESSMENT ORDER WAS ALREADY PASSED BY THE AO ON 28.07.2017. HE SUBMITTED THAT UNDER THESE FACTS, THE MATTER SHOULD BE RESTORED TO THE AO FOR FRESH DECISION IN LINE WITH THE JUDGMENT OF HONBLE KARNATAKA HIGH COURT. LEARNED DR OF THE REVENUE SUPPORTED THE ORDER OF CIT (A). 4. I HAVE CONSIDERED THE RIVAL SUBMISSIONS. IN THE LIGHT OF ABOVE DISCUSSION, I FEEL IT PROPER TO RESTORE THE MATTER BACK TO AO FOR FRESH DECISION IN LINE WITH THE JUDGMENT OF HONBLE KARNATAKA HIGH COURT IN ITA NO. 32 OF 2018 DATED 11.12.2018. I ORDER ACCORDINGLY. IN VIEW OF THIS DECISION, NO DECISION ON MERIT IS CALLED FOR AT THE PRESENT STAGE. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- ( A .K. GARODIA ) ACCOUNTANT MEMBER BANGALORE D A T E D : 08.05.2019 /MS/ COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A), BANGALORE 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER, AR, ITAT, BANGALORE