Prakash Kumar Agarwal, Dhanbad V. ACIT,Central Circle, Dhanbad

ITA 232/RAN/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0259 (ITAT-RANCHI)
• Duration Of Justice: 8 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-03-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 25-06-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: NISHA ORAON SINGHMARR J
• Section: 153A; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH SMC RANCHI BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.232/RAN/2019 ASSESSMENT YEAR:2009-10 SRI PRAKASH KUMAR AGARWAL, RATANJI ROAD, PURANA BAZAR, DHANBAD PIN-826001 [ PAN NO.ACCPA 5689 F ] / V/S . ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, DHANBAD-826001 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI DEVESH PODDAR, ADVOCATE /BY RESPONDENT SMT. NISHA ORAON SINGHMARR, JCIT-DR /DATE OF HEARING 06-03-2020 /DATE OF PRONOUNCEMENT 06-03-2020 /O R D E R (ORAL) THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2009-10 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-3,PATNAS ORDE R DATED 20.05.2019 PASSED IN CASE NO.40/CIT(A)-3/PAT/2013-14 INVOLVING PROCEEDI NGS U/S. 148 R.W.S. 153A R.W.S.143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE LEARNED AUTHORIZED REPRESENTATIVES ONLY ARG UMENT DURING THE COURSE OF HEARING IS THAT THE BOTH THE LOWER AUTHORITIES HAVE ERRED IN LAW AND ON FACTS IN MAKING UNDISCLOSED INVESTMENT ADDITION OF 12,60,350/- BASED ON DVOS REPORT HOLDING INVESTMENT CONSIDERATION TO BE AT 19,45,900/- AS AGAINST THE DISCLOSED PRICE OF 6,85,550/-. MR. PODDARS CASE AS PER THE RELEVANT F ACTS ON RECORD IS THAT THE DVO HAS NOT CONSIDERED THE RELEVANT LOCATION, SIMILAR SALE INSTANT AND DISTRESSING FACTORS OF ITA NO.232/RAN/2019 A.Y 2009-10 SRI PRAKASH KR. AGARWAL VS. ACIT, CC-DHANBA D PAGE 2 HOUSE PROPERTY IN QUESTION. LEARNED DEPARTMENTAL RE PRESENTATIVE HAS STRONGLY SUPPORTED THE IMPUGNED ADDITION BUT SHE FAILS TO DI SPUTE THAT ALL PARAMETERS HAVE NOT BEEN TAKEN INTO CONSIDERATION BY THE LOWER AUTHORIT IES. FACED WITH THIS SITUATION, I DEEM IT APPROPRIATE A LUMP SUM ADDITION OF 4.50 LAKH WOULD MEET THE ENDS OF JUSTICE WITH A RIDER THAT SAME SHALL NOT BE TREATED AS A PR ECEDENT IN ANY OTHER ASSESSMENT YEAR. NECESSARY COMPUTATION INCLUDING THAT OF INTEREST SH ALL FOLLOW AS PER LAW. NO OTHER GROUND HAS BEEN PRESSED BEFORE ME DURING THE COURSE OF HEARING. 3. THIS ASSESSEES APPEAL IS PARTLY ALLOWED. ORDER PRONOUNCED IN OPEN COURT AT THE CLOSE OF HEAR ING ON FRIDAY , 6 TH MARCH, 2020 SD/- ( #) (S.S. GODARA) JUDICIAL MEM BER *DKP/SR.PS % - 06/03/2020 / COPY OF ORDER FORWARDED TO:- 1. / APPELLANT-SRI PRAKASH KR. AGARWAL, RATANJI ROAD, PURANA BAZAR, DHANBAD, PIN -826001 2. / RESPONDENT-ACIT, CENTRAL CIRCLE, DHANBAD-826001 3. ) , / CONCERNED CIT 4. , - / CIT (A) 5. - ) , ) / DR, ITAT, RANCHI 6. 1 / GUARD FILE. BY ORDER/ , SR. PRIVATE SECRETARY/P.S (ON TOUR) ),