SHRI AJAY KUMAR PANJWANI, RAIPUR V. INCOME TAX OFFICER, WARD 3(2), , RAIPUR

ITA 206/RPR/2018

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 0946 (ITAT-RAIPUR)
• Duration Of Justice: 3 year(s) 5 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-05-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 27-11-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Sale consideration of property below Jantri Value
• Section: 68

Judgement Text

आयकर अपीलȣय अͬधकरण Ûयायपीठ रायप ु र मɅ। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR (Through Virtual Court) BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI RATHOD KAMLESH JAYANTBHAI, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 206/RPR/2018 Ǔनधा[रण वष[ / Assessment Year : 2015-16 Shri Ajay Kumar Pajwani, Near Gurudwara, Guru Teg Bahadur Nagar, Mahaveer Nagar, Near Purena, Raipur PAN : ACVPD0850C .......अपीलाथȸ / Appellant बनाम / V/s. Commissioner of Income Tax (Appeals)-1, Raipur (C.G) ......Ĥ×यथȸ / Respondent Assessee by : None Revenue by : Shri G.N Singh, DR स ु नवाई कȧ तारȣख / Date of Hearing : 26.05.2022 घोषणा कȧ तारȣख / Date of Pronouncement : 27.05.2022 2 ITA No. 206/RPR/2018 A.Y.2015-16 आदेश / ORDER PER RATHOD KAMLESH JAYANTBHAI, AM: This appeal is filed by the assessee aggrieved from the order of the Commissioner of Income Tax (Appeal)- I, Raipur [ Here in after referred as Ld. CIT(A) ] for the assessment year 2015-16 dated 06.08.2018. 2. The hearing of the appeal was concluded through audio-visual medium on account of Government guidelines on account of prevalent situation of Covid-19 Pandemic, both the parties have placed their written as well as oral arguments during this online hearing process. 3. The assessee has taken following grounds in this appeal; “1. That on the fact and circumstances of the case and in law, learned assessing officer and honorable CIT(A) has been erred in making addition of Rs. 13,65,900/- by invoking section 68 income tax act and treating the same as unexplained cash credit despite of the fact that assessee sold the shares through recognized stock exchange. 2. That on the fact and circumstances of the case and in law, the honorable CIT (A) has been erred in confirming the order of learned assessing officer without appreciating the fact of the case.” 4. When the appeal called for hearing, none appeared on behalf of the assessee, but the assessee on 19.05.2022 filed an undated application accompanying a certificate in form No 3 issued under Direct Tax Vivad se Vishwas Act, 2020 (the VSVS) by the designated authority. In that application the assessee stated he has opted to settle the dispute related to tax arrears under vivad se viswas and in compliance he has filed the Form No. 3 issued by the department and has also filed form no. 4 and 3 ITA No. 206/RPR/2018 A.Y.2015-16 awaiting form no. 5 and in the light of the stated facts seek permission to withdraw the appeal filed. 5. The Ld Departmental Representative did not controvert the aforesaid factual position as stated before us. 7. In view of the above, we dismiss the appeal as withdrawn, subject to a rider that, in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme for any reasons, the appellant shall have liberty to approach & revive this appeal through filing of Miscellaneous Application within the prescribed time limit under the provisions of the Act for the restoration. 8. In the result, appeal of the assessee is dismissed as withdrawn. Order pronounced in open court on 27 th day of May, 2022. Sd/- Sd/- RAVISH SOOD RATHOD KAMLESH JAYANTBHAI JUDICIAL MEMBER ACCOUNTANT MEMBER रायप ु र/ RAIPUR ; Ǒदनांक / Dated : 27 th May, 2022 Ganesh Kumar, PS, Jaipur आदेश कȧ ĤǓतͧलͪप अĒेͪषत / Copy of the Order forwarded to : 1. अपीलाथȸ / The Appellant. 2. Ĥ×यथȸ / The Respondent. 3. The CIT(Appeals)-1, Raipur (C.G) 4. The Pr. CIT-1, Raipur (C.G) 4 ITA No. 206/RPR/2018 A.Y.2015-16 5. ͪवभागीय ĤǓतǓनͬध, आयकर अपीलȣय अͬधकरण,रायप ु र बɅच, रायप ु र / DR, ITAT, Raipur Bench, Raipur. 6. गाड[ फ़ाइल / Guard File. आदेशान ु सार / BY ORDER, Ǔनजी सͬचव / Private Secretary आयकर अपीलȣय अͬधकरण, रायप ु र / ITAT, Raipur. 5 ITA No. 206/RPR/2018 A.Y.2015-16 Date 1 Draft dictated on 26.05.2022 Sr.PS/PS 2 Draft placed before author 26.05.2022 Sr.PS/PS 3 Draft proposed and placed before the second Member JM/AM 4 Draft discussed/approved by second Member AM/JM 5 Approved draft comes to the Sr. PS/PS Sr.PS/PS 6 Kept for pronouncement on Sr.PS/PS 7 Date of uploading of order Sr.PS/PS 8 File sent to Bench Clerk Sr.PS/PS 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