Shri.Manohar Krishnaswamy , Bangalore V. The Income Tax Officer Ward-6(2)(3), Bangalore

ITA 2130/BANG/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 7302 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 1 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-09-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 05-07-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect; Capital Gains
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES C BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOU NTANT MEMBER ITA NO. 2130 /BANG/2018 (ASSESSMENT YEAR: 20 12 - 13 ) SHRI MANOHAR KRISHNASWAMY, NO.479, 13 TH CROSS, 28 TH MAIN, J P NAGAR 1 PHASE, BANGALORE - 560 078 .APPELLANT PAN AHMPK 3576A VS. INCOME TAX OFFICER , WARD 6(2)(3), BANGALORE. RESPONDENT. ASSESSEE BY: SHRI SURESH MUTHUKRISHNAN, C.A. REVENUE BY: SHRI PRADEEP KUMAR, CIT (D.R) DATE OF HEARING : 31.08 .20 20. DATE OF PRONOUNCEMENT : 01 .09. 20 20. O R D E R PER SHRI CHANDRA POOJARI, A.M. : TH IS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF C OMMISSIONER OF INCOME TAX (APPEALS) - 4 , BANGALORE DT. 26.04.2018 FOR THE ASSESSMENT YEAR 2012 - 13. 2 ITA NO. 2130/BANG/2018 2. AT THE TIME OF HEARING, THE LEARNED AUTHORISED REPRESENTATIVE SUBMITTED THAT THIS APPEAL WAS FILED BY THE ASSESSEE ;AGAINST THE ORDER OF LD. CIT (APPEALS) IN DIRECTING THE ASSESSING OFFICER TO ADOPT THE COST OF CONSTRUCTION AT RS.1,164/ - PER SQ. FT. AS AGAINST RS.945/ - RETURNED BY THE ASSESSEE FOR COMPUTING THE CAPITAL GAINS WHICH HAD ACCRUED TO THE ASSESSEE . SIMILARLY, THE RESPONDENT HAD ALSO FILED AN APPEAL IN ITA NO.2064/BANG/2018 WHICH WAS HEARD BY THE TRIBUNAL AND DISPOSED OFF VIDE ORDER DT.28.08.2018 ON THE REASON THAT LOW TAX EFFECT WHICH IS LESS THAN RS.50 LAKHS. ACCORDINGLY, THE LEARNED AUTHORISE D REPRESENTATIVE FILED A LETTER DT.29.08.2020 SEEKING PERMISSION TO WITHDRAW THE APPEAL. WE ACCEDE TO THE REQUEST OF THE LEARNED COUNSEL FOR THE ASSESSEE. ACCORDINGLY, THIS APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 3. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/ - SD/ - ( N.V. VASUDEVAN ) ( CHANDRA POOJARI ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 01 . 09. 20 20 . *REDDY GP 3 ITA NO. 2130/BANG/2018 COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT (A) 4. PR. CIT 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME - TAX APPELLATE TRIBUNAL BANGALORE