Boini Sushila , Zaheerabad V. Income Tax Officer, Ward-1, Sangareddy

ITA 256/Hyd/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 0736 (ITAT-HYDERABAD)
• Duration Of Justice: 11 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-02-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 09-03-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BALA KRISHNA
• Keywords: Sale consideration of property below Jantri Value
• Section: 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES SMC, HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A. NO. 256/HYD/2020 ASSESSMENT YEAR: 2012-13 SMT.BOINI SUSHILA, ZAHEERABAD [PAN: ABHPB6086D] VS INCOME TAX OFFICER, WARD-1, SANGAREDDY (APPELLANT) (RESPONDENT) FOR ASSESSEE : SMT.S.SANDHYA, AR FOR REVENUE : SHRI BALA KRISHNA, DR DATE OF HEARING : 01-02-2021 DATE OF PRONOUNCEMENT : 18-02-2021 O R D E R THIS ASSESSEES APPEAL FOR AY.2012-13 ARISES FROM TH E CIT(A)-2, HYDERABADS ORDER DATED 26-12-2019 PASSED IN APPEAL NO.12920/2019-20/CIT(A)-2, IN PROCEEDINGS U/ S. 144 R.W.S.147 OF THE INCOME TAX ACT, 1961 [IN SHORT, THE A CT]. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. IT TRANSPIRES DURING THE COURSE OF HEARING THAT BOTH TH E LEARNED LOWER AUTHORITIES HAVE MADE LONG TERM CAPITAL GAIN ADDITION OF RS.21,56,820/- IN ASSESSEES HANDS, WITH OUT MAKING THE MANDATORY REFERENCE U/S.50C(2) OF THE ACT TO THE DVO. ITA NO. 256/HYD/2020 :- 2 -: 3. LEARNED DEPARTMENTAL REPRESENTATIVE VEHEMENTLY CONTENDED THAT NO SUCH REQUEST CAME FROM THE TAXPAYERS S IDE. I FIND NO MERIT IN THE REVENUES INSTANT STAND. HON'BLE CALCUTTA HIGH COURTS DECISION SUNIL KUMAR AGARWAL VS. CIT (2014) [372 ITR 83] (CAL) THAT A REFERENCE TO THE DVO IS MANDATORY IN SEC.50C PROCEEDINGS EVEN IF THE ASSESSEE CONCERNED DOES NOT RAISE ANY SUCH PRAYER. I THEREFORE DEEM IT APPROPRIATE TO RESTORE THE INSTANT SOLE ISSUE BACK TO THE ASSESSING OFFICER FOR HIS AFRESH ADJUDICATION AS PER LAW. THE ASSESSEE SHALL BE AT LIBERTY TO RAISE ALL FACTUAL AS WELL AS LEGAL PLEAS IN THE CONSEQUENTIAL PROCEEDINGS. 4. THIS ASSESSEES APPEAL IS TREATED AS ALLOWED FOR S TATISTICAL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH FEBRUARY, 2021 SD/- ( S.S.GODARA ) JUDICIAL MEMBER HYDERABAD, DATED: 18-02-2021 TNMM ITA NO. 256/HYD/2020 :- 3 -: COPY TO : 1.SMT. BOINI SUSHILA, 2-5-26, RACHANNAPET, ZAHEERAB AD, SANGAREDDY DIST., 2.THE INCOME TAX OFFICER, WARD-1, SANGAREDDY. 3.CIT(APPEALS)-2, HYDERABAD. 4.PR.CIT-2, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.