DCIT, Thrissur V. Shri P.M. Aboobacker, Thrissur

ITA 267/COCH/2009

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 4530 (ITAT-COCHIN)
• Duration Of Justice: 2 year(s) 1 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 15-06-2017
• Assessment Year: 2006-2007
• Appeal Filed On: 13-05-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAYAPRABHAJR
• Assessee Lawyers: V VENUGOPAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.VIJAYAKUMARAN & SHRI SANJAY ARORA I.T.A.NO.267/COCH/2009 ASSESSMENT YEAR:2006-07 THE DY . COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE, THRISSUR. VS. SHRI P.M.ABOOBACKER, PANIKAVEETIL MARAKAPARAMBIL, P.O.ORUMANAYOOR, CHAVAKKAD,TRICHUR-680512. PA NO.ACQPA 2099R (APPELLANT) ( RESPONDENT ) APPELLANT BY MS.VIJAYAPRABHA,JR.D.R. RESPONDENT BY SHRI V.VENUGOPAL, C.A. O R D E R PER N.VIJAYAKUMARAN,J.M: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(APPEALS)-I, KOCHI, DATED 16-02 -2009 PERTAINING TO THE ASSESSMENT YEAR 2006-07. 2. THE FACTS RELEVANT ARE THAT THE ASSESSEE IS AN I NDIVIDUAL AND OWNER OF A SHOPPING COMPLEX AT TRICHUR. A S EARCH U/S.132 OF THE I.T.ACT WAS CONDUCTED AT THE RESIDEN CE OF ONE SHRI P.A.NOUSHAD, PUTHIYAVEETIL HOUSE, AVENUE ROAD, TRICHUR ON 09-11-2006. THE SEARCH WAS CONDUCTED ON THE BA SIS OF ITA NO.267/COCH/2009 2 INFORMATION GATHERED THAT THE ASSESSEE HAD PURCHASE D A LANDED PROPERTY FROM SHRI NOUSHAD. DURING THE POS T SEARCH PROCEEDINGS, SHRI NOUSHAD, WHO IS A NRI DEPOSED BEF ORE THE ASSESSING OFFICER THAT THE ACTUAL PRICE OF THE PROP ERTY SOLD BY HIM TO THE ASSESSEE WAS ERROR: UNDEFINED OFFENDING COMMAND: RUPEE STACK: / INDIAN