Mahesh prasad, Giridih V. ITO, Ward-3(4), Dhanbad

ITA 269/RAN/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 8304 (ITAT-RANCHI)
• Duration Of Justice: 3 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-03-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 06-11-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Sale consideration of property below Jantri Value
• Section: 56(2)(vii)(b); 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL: RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A NO.269/RAN/2019 ASSESSMENT YEAR: 2014-15 MAHESH PRASAD S/O BAIJNATH PRASAD, ARGAGHAT ROAD, RAJPUT MOHALLA, GIRIDIH- 815301(JHARKHAND) VS. ITO, WARD-2(1), DHANBAD PAN/GIR NO. : BQDPP4612B ( APPELL ANT ) .. (RESPONDENT) APPELLANT BY NONE RESPONDENT BY SHRI AJAY KUMAR, ADDL. CIT, DR DATE OF HEARING 05.03.2020 DATE OF PRONOUNCEMENT 05.03.2020 O R D E R S. S. GODARA(ORAL): THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS), DHANBAD DATED 21.08.2019 PASSED IN CASE NO.CIT(A),DHANBAD/10050/2016-17 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). CASE CALLED TWICE. NONE APPEARS AT ASSESSEES BEHEST. I ACCORDINGLY PROCEED EX PARTE. 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CHALLENGES CORRECTNESS OF BOTH THE LEARNED LOWER AUTHORITIES ACTION ADDING AN AMOUNT OF RS.25,44,500/- BEING DIFFERENCE BETWEEN ACTUAL PURCHASE PRICE AND STAMP VALUATION INVOLVING SUMS OF RS.3,00,000/- AND 28,44,500/-; RESPECTIVELY. IT EMERGES FROM A PERUSAL OF THE CASE FILE THAT NEITHER OF THE LOWER AUTHORITIES AND MORE PARTICULARLY THE ASSESSING OFFICER HAD MADE ANY REFERENCE TO THE DVO IN TUNE WITH SECTION 56(2)(VII)(B) 3 RD PROVISO READ WITH U/S 50C(2) OF THE ACT. HONBLE CALCUTTA HIGH COURTS JUDGMENT IN SUNIL KUMAR AGARWAL VS. CIT (2016) 372 ITR 83 (CAL) HOLDS THAT SUCH A REFERENCE IS VERY MUCH MANDATORILY MADE EVEN IF THE ASSESSEE DOES NOT RAISE ANY PLEA. I THEREFORE RESTORE THE INSTANT SOLE ISSUE BACK TO THE ASSESSING OFFICER FOR HIS FRESH ADJUDICATION AS PER LAW AFTER MAKING NECESSARY REFERENCE TO THE DVO. I.T.A NO.46/RAN/2019 SULEKHA DEVI 2 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER IS PRONOUNCED IN THE OPEN COURT ON 05.03.2020. SD/- (S. S. GODARA) JUDICIAL MEMBER DATED: 05.03.2020. RS COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) - 5. THE DR, ITAT, RANCHI 6. GUARD FILE BY ORDER SR. P.S., ITAT, RANCHI (ON TOUR)