Priya Bhargav Patel, Navsari V. The Income tax Officer,Ward-3, Valsad

ITA 2429/AHD/2009

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 0297 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-10-2009
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 17-08-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NEETA SHAH
• Assessee Lawyers: M K PATEL
• Keywords: Set aside
• Section: 69B

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL : B BENCH : AHMEDABAD (BEFORE HONBLE SHRI T.K. SHARMA, J.M. & HONBLE SH RI D.C. AGARWAL, A.M.) I.T.A. NO. 2429/AHD./2009 ASSESSMENT YEAR : 2004-2005 PREYA BHARGAV PATEL, NAVSARI -VS. - INCOME TAX OFFICER, WARD-3, NAVSARI (P.A. NO. AHNPP 7113 M) (APPELLANT) (R ESPONDENT) APPELLANT BY : SHRI M.K. PATEL RESPONDENT BY : SMT. NEETA SHAH O R D E R PER SHRI T.K. SHARMA, JUDICIAL MEMBER :- THIS APPEAL BY THE ASSESSEE IS AGAINST THE ORDER DATED 29.05.2009 OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS), VALSAD FOR THE ASSESSMENT YEAR 2004-2005 CONFIRMING THE ADDITION OF RS.61,982 /- MADE BY THE A.O. UNDER SECTION 69B OF THE INCOME TAX ACT, 1961. 2. AT THE TIME OF HEARING, ON BEHALF OF THE ASSESSE E SHRI M.K. PATEL APPEARED AND CONTENDED THAT THE ASSESSEE IS AN INDIVIDUAL, WHO IS REGULARL Y ASSESSED TO TAX BY ITO, WARD-3, NAVSARI. DURING THE RELEVANT ASSESSMENT YEAR, THE ASSESSEE A LONGWITH HIS CO-OWNERS CONSTRUCTED A RESIDENTIAL HOUSE AT PUNE. THE ASSESSEES SHARE IN THE SAID PROPERTY WAS 1/4 TH . THE ASSESSEE HAS MADE AN INVESTMENT OF RS.6,37,537/- IN THE SAID PRO PERTY. IN THE CASE OF ONE CO-OWNER, NAMELY BHARGAV A. PATEL, THE A.O. HAD REFERRED THE MATTER TO VALUATION CELL OF THE DEPARTMENT. THE DEPARTMENTAL VALUATION OFFICER VALUED THE SAID PROP ERTY (I.E. JOINTLY OWNED PROPERTY) AT RS.27,98,074/-. THE A.O. WITHOUT BRINGING ANY EVIDE NCE DETERMINED HIS 1/4 TH INVESTMENT AT RS.6,99,719/- AND ADDED DIFFERENTIAL AMOUNT OF RS.6 1,982/- UNDER SECTION 69B OF THE INCOME TAX ACT, 1961. 3. IN THE IMPUGNED ORDER, THE LEARNED COMMISSIONER OF INCOME TAX(APPEALS) UPHELD THE ACTION OF A.O. 4. THE LD. COUNSEL OF THE ASSESSEE POINTED OUT THAT IN THE CASE OF OTHER CO-OWNER, NAMELY SHRI BHARGAV ANILKUMAR PATEL, HON'BLE ITAT, B BEN CH, AHMEDABAD VIDE ORDER DATED 16.08.2007 IN ITA NO. 2726/AHD./2007 FOR THE ASSESS MENT YEAR 2004-05, REMITTED THE ISSUE REGARDING VALUATION OF THE PROPERTY BACK TO A.O. TO ADJUDICATE THE SAME AFRESH IN THE LIGHT OF REASONING GIVEN THEREIN. IN VIEW OF THIS, THE LD. C OUNSEL SUBMITTED THAT SINCE THE ASSESSEE IS ONE OF 2 THE CO-OWNER, THEREFORE, FOLLOWING THE DECISION OF THIS TRIBUNAL IN THE CASE OF OTHER CO-OWNER, NAMELY BHARGAV ANILKUMAR PATEL (SUPRA), THE MATTER BE SENT TO THE FILE OF A.O. WHO WILL RE- ADJUDICATE THIS ADDITION AFRESH IN THE LIGHT OF LET TER OF VALUATION OFFICER, WHICH IS RE-PRODUCED BY THE TRIBUNAL IN THE CASE OF OTHER CO-OWNER, NAMELY BHARGAV ANILKUMAR PATEL (SUPRA). 5. SHRI NEETA SHAH, LD. DEPARTMENTAL REPRESENTATIVE COULD NOT CONTROVERT THE AFORESAID SUBMISSIONS OF THE LD. COUNSEL OF THE ASSESSEE. 6. WE HAVE CAREFULLY GONE THE ORDERS OF AUTHORITIES BELOW AND ALSO PERUSED THE MATERIAL AVAILABLE ON RECORD. ADMITTEDLY, THE ASSESSEE IS ON E OF THE CO-OWNER. IN THE CASE OF OTHER CO- OWNER NAMELY BHARGAV ANILKUMAR PATEL (SUPRA), THE M ATTER HAS BEEN REMITTED BACK TO THE FILE OF A.O. WE, THEREFORE, FOLLOWING THE DECISION OF THE T RIBUNAL IN THE CASE OF OTHER CO-OWNER, NAMELY BHARGAV ANILKUMAR PATEL (SUPRA), SET ASIDE THE ORDE R OF LEARNED COMMISSIONER OF INCOME TAX(APPEALS) ON THIS ISSUE AND REMIT THE SAME TO TH E FILE OF A.O. WITH THE DIRECTION THAT HE WILL RE-ADJUDICATE THE ADDITION OF RS.61,982/- AFRESH IN ACCORDANCE WITH LAW KEEPING IN VIEW THE DECISION IN THE CASE OF OTHER CO-OWNER. FOR THIS PU RPOSE, THE ASSESSEE SHALL FURNISH THE ACTION TAKEN BY THE A.O. IN THE CASE OF OTHER CO-OWNER, NA MELY SRI BHARGAV ANILKUMAR (PATEL) AND OTHER DETAILS WHICH A.O. MAY REQUIRE. 7. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSES. THE ORDER PRONOUNCED IN THE COURT ON 16.10.2009 SD/- SD/- (D.C. AGARWAL) (T.K. SHARMA ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 16 / 10 / 2009 COPY OF THE ORDER IS FORWARDED TO : 1) THE ASSESSEE (2) THE RESPONDENT 3) CIT(A) CONCERNED, (4) CIT CONCERNED,(5) D.R., ITAT, AHMEDABAD. TRUE COPY BY ORDER DEPUTY REGISTRAR, ITAT, AHMEDABAD LAHA/SR.P.S.