Smt. Sushilaben Trikambhai Patel, Ahmedabad V. The Pr. CIT.-7, Ahmedabad

ITA 213/AHD/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2861 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 9 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-11-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 27-01-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G C DAXINI
• Assessee Lawyers: CHAJAD
• Keywords: Sale consideration of property below Jantri Value
• Section: 143(3); 50C; 263

Judgement Text

, - IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH B BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMAJIT SINGH, ACCOUNTANT MEMBER ./ ITA NO. 213/AHD/2017 / ASSESSMENT YEAR: 2012-13 SMT.SHUSHILABEN TRIKAMBHAI PATEL BUNGLOW NO.2 HARIOM SOCIETY NR. NARODA POST OFFICE NARODA, AHMEDABAD. PAN : BLEPP 2058 M VS PR.CIT(A)-7 AHMEDABAD. / (APPELLANT) / (RESPONDENT) ASSESSEE BY : SHRI M.S. CHAJAD, AR REVENUE BY : SHRI G.C. DAXINI, SR.DR / DATE OF HEARING : 29/10/2018 /DATE OF PRONOUNCEMENT : 01/11/2018 O R D E R PER RAJPAL YADAV, JUDICIAL MEMBER : PRESENT APPEAL IS DIRECTED AT THE INSTANCE OF THE ASSESSEE AGAINST OR DER OF THE LD. PR.COMMISSIONER DATED 9.12.2016 UNDER SECTION 263 O F THE INCOME TAX ACT, 1961 PASSED IN THE ASSTT.YAR 2012-13. 2. THE LD.COUNSEL FOR THE ASSESSEE, AT THE VERY OUT SET SUBMITTED THAT THE LD.COMMISSIONER TOOK COGNIZANCE UNDER SECTION 263 O N THE GROUND THAT EIGHT CO-OWNERS HAVE SOLD AN IMMOVABLE PROPERTY FOR WHICH CAPITAL GAIN WAS REQUIRED TO BE COMPUTED. IN ORDER TO COMPUTE C APITAL, FULL SALE ITA NO.213/AHD/2017 - 2 - CONSIDERATION OUGHT TO BE DEEMED EQUIVALENT TO THE VALUE ON WHICH STAMP DUTY WAS PAID AS PROVIDED UNDER SECTION 50C OF THE ACT. ON THIS GROUND, HE TOOK COGNIZANCE UNDER SECTION 263 AND DIRECTED T HE AO TO VERIFY THE CLAIM OF THE ASSESSEE. THE ASSESSMENT ORDER PASSED UNDER SECTION 143(3) WAS SET ASIDE. WHILE GIVING EFFECT TO THE ORDER OF THE LD.COMMISSIONER, LD.AO DID NOT MAKE ANY ADDITION. THE LD.COUNSEL FO R THE ASSESSEE HAS PLACED ON RECORD COPY OF THE ASSESSMENT ORDER DATED 30.12.2017 PASSED UNDER SECTION 143(3) R.W.S. 263 OF THE ACT. ACCORD ING TO THE LD.COUNSEL FOR THE ASSESSEE IN VIEW OF THE ASSESSMENT ORDER, THE A SSESSEE HAS NO GRIEVANCE AGAINST THE ORDER OF THE LD.COMMISSIONER UNDER SECT ION 263. THIS APPEAL BECAME REDUNDANT. SINCE THE LD.COUNSEL FOR THE ASS ESSEE HAS NOT ADVANCED ANY ARGUMENT AND EXPRESSED THAT THIS APPEAL BECOMES REDUNDANT IN VIEW OF THE ASSESSMENT ORDER, THEREFORE, THIS APPEAL IS DIS MISSED BEING INFRUCTOUS . 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. PRONOUNCED IN THE OPEN COURT ON 1 ST NOVEMBER, 2018. SD/- SD/- (AMARJIT SINGH) ACCOUNTANT MEMBER (RAJPAL YADAV) JUDICIAL MEMBER