Bhavya Anant Udeshi, Hyderabad V. ITO, International Taxation - I, Hyderabad

ITA 2100/HYD/2011

• Counselvise Citation: 210022514 RSA 2011
• Duration Of Justice: 3 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2015
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 18-03-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 20-12-2011
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAMAKRISHNA BANDI
• Assessee Lawyers: AJAY GANDHI
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A', HYDERABAD BEFORE SHRI P.M.JAGTAP, ACCOUNTANT MEMBER AND SMT.ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER ITA NO.2100/HYD/2011 : ASSESSMENT YEAR 2008 - 09 SHRI BHAVYA ANANT UDESHI, HYDERABAD (PAN AALPU 3857 A) V/S. INCOME TAX OFFICER (INTERNATIONAL TAXATION) - I, HYDERABAD (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI AJAY GANDHI RESPONDENT BY : SHRI RAMAKRISHNA BANDI DR DATE OF HEARING 18.3.2015 DATE OF PRONOUNCEMENT 20.03.2015 O R D E R PER P.M.JAGTAP, ACCOUNTANT MEMBER : TH IS APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LEARNED CIT(A) V, HYDERABAD DATED 20.10.2011 WAS EARLIER DISPOSED OF BY THE TRIBUNAL VIDE ITS ORDER DATED 4.4.2014. THEREAFTER, THE ASSESSEE FILED A MISCELLANEOUS APPLICATION POINTING OUT INTER ALIA THAT THERE WAS A MISTAKE IN THE SAID ORDER OF THE TRIBUNAL IN NOT ADJUDICATING UPON THE ISSUES RAISED IN GROUNDS NO.8 AND 9. ACCORDINGLY, VIDE ORDER D ATED 29.10.2014 PASSED IN MA NO.118/HYD/2014, THE TRIBUNAL RECALLED ITS ORDER DATED 14.4.2014 FOR THE LIMITED PURPOSE OF DECIDING THE FOLLOWING GROUNDS, BEING GROUNDS NO.8 AND 9, RAISED IN THE APPEAL OF THE ASSESSEE - 8. THE CIT(A) HAS ERRED IN NOT GIVING A FINDING ON THE ALLOWABILITY OF CLAIM OF INDEXATION WHILE COMPUTING LONG TERM CAPITAL GAINS ON SALE OF J UBILEE HILLS PROPERTY. 9. THE CIT(A) HAS ERRED IN NOT GIVING A FINDING FOR THE CLAIM OF SET OFF LONG TERM CAPITAL LOSS ON SALE I TA NO. 2100 /H YD/20 1 1 SHRI BHAVYA ANANT UDESHI, HYDERABAD 2 OF SUNDALE PROPERTY AGAINST THE LONG TERM GAINS FROM JUBILLEE HILLS PROPERTY. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RE LEVANT MATERIAL ON RECORD. THE GRIEVANCE OF THE ASSESSEE AS PROJECTED IN GROUNDS NO.8 AND 9 IS THAT THE ISSUES MENTIONED THEREIN WERE NOT DECIDED BY THE LEARNED CIT(A) BY THE IMPUGNED ORDER DATED 28.10.2011 IN SPITE OF THE FACT THAT THEY WERE SPECIFICAL LY RAISED IN GROUNDS NO.5 AND 7 TAKEN IN THE APPEAL FILED BEFORE THE LEARNED CIT(A), AND THIS POSITION CLEARLY MANIFEST FORM THE RELEVANT RECORD IS NOT DISPUTED EVEN BY THE LEARNED DEPARTMENTAL REPRESENTATIVE. THE LEARNED DEPARTMENTAL REPRESENTATIVE, HOWEV ER, HAS CONTENDED THAT SINCE GROUNDS NO.5 AND 7 RAISED BEFORE THE LEARNED CIT(A) HAVE REMAINED TO BE DECIDED BY HIM, THE MATTER MAY BE SENT BACK TO THE LEARNED CIT(A) FOR DECIDING THE SAME ON MERITS. SINCE THE LEARNED COUNSEL FOR THE ASSESSEE ALSO HAS NO O BJECTION IN THIS REGARD, WE REMIT THE MATTER BACK TO THE LEARNED CIT(A) FOR THE LIMITED PURPOSE OF ADJUDICATING UPON GROUNDS NO.5 AND 7 RAISED BY TH E ASSESSEE IN THE APPEAL FILED BEFORE THE LEARNED CIT(A). NEEDLESS TO OBSERVE THAT THE LEARNED CIT(A) SHAL L GIVE PROPER AND SUFFICIENT OPPORTUNITY OF BEING HEARD TO THE ASSESSEE BEFORE DECIDING THE SAID ISSUES. GROUNDS NO.8 AND 9 OF THE ASSESSEES APPEAL ARE ACCORDINGLY TREATED AS ALLOWED FOR STATISTICAL PURPOSE. 3. IN THE RESULT, READ WITH THE EARLIER ORD ER OF THE TRIBUNAL ON THIS APPEAL DATED 4.4.2014, THE APPEAL OF THE ASSESSEE IS TREATED AS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT ON 20 TH MARCH, 2015 SD/ - SD/ - ( ASHA VIJAYARAGHAVAN ) ( P.M.JAGTAP ) JUDICIAL MEMBER ACCOUNTANT MEMBER D T/ - 20 TH MARCH, 201 5 I TA NO. 2100 /H YD/20 1 1 SHRI BHAVYA ANANT UDESHI, HYDERABAD 3 COPY FORWARDED TO: 1. SHRI BHAVYA ANANT UDESHI, C/O. GANDHI & GANDHI CHARTERED ACCOUNTANTS, 1002, PAIGAH PLAZA, BASHEERBAGH, HYDERABAD 500 063. 2 . INCOME TAX OFFICER (INTERNATIONAL TAXATION) HYDERABAD 3. COMMISSIONER OF INCOME - TAX(APPEALS) V HYDERABAD 4. COMMISSIONER OF INCOME - TAX IV, HYDERABAD 5. DEPARTMENTAL REPRESENTATIVE, ITAT, HYDERABAD. B.V.S