Shri Dayaldas Sachdev S/o. Shri Pritamdas Sachdev, Indore V. I T O Ward 5(1), Indore

ITA 278/Ind/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0938 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 2 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-05-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 22-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard; Assessment record; Set aside

Judgement Text

SMC DAYALDAS SACHDEV ITA NO.278 OF 2019 1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE SMC BENCH, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER ITA NO. 278/IND/2019 A.Y. 2014-15 SHRI DAYALDAS SACHDEV S/O SHRI PRITAMDAS SACHDEV , INDORE PAN CEDPS8997D :: APPELLANT VS ITO-5(1), INDORE :: RESPONDENT ASSESSEE BY G.R. MANDOWARA ,CA (THROUGH VIDEO CONFERENCING ) RESPONDENT BY SHRI ASHISH PORWAL, SR. DR DATE OF HEARING 28. 0 5 .20 20 DATE OF PRONOUNCEMENT 28.05 .20 20 O R D E R THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE O RDER OF LD. CIT(A)-II, INDORE DATED 06.07.2018. THE ASSESSEE HAS RAISED FO LLOWING GROUNDS OF APPEAL: 1. THAT THE LEARNED INCOME TAX OFFICER HAS ERRED I N MAKING ADDITIONS OF RS. 1099249 TO THE TOTAL AND TAXABLE INCOME UNDER THE HEAD LONG TERM C APITAL GAIN FROM SALE OF HOUSE PROPERTY. 2 THAT THE LEARNED INCOME TAX OFFICER HAS ERRED IN NOT ALLOWING DEDUCTION OF THE INDEXED COST OF RS. 782497 FOR AR RIVING AT THE GAIN OUT OF THE HOUSE PROPERTY SOLD FOR RS. 26,66,667. 3 THAT THE LEARNED INCOME TAX OFFICER HAS ERRED IN NOT ALLOWING FULL DEDUCTION FOR INVESTMENT IN PURCHASE OF NEW HOUSE PROPERTY OUT OF THE GAIN FROM SALE OF THE OLD HOUSE PROPERTY. COST OF PURCHASE OF NEW HOUSE PROPERTY WAS CLAIMED AT RS. 16,69,000 WHEREAS THE INCOME TAX OFFICER ALLOWED DEDUCTION FOR RS. 15,16,418 WITHOUT STATING ANY REASON TO REDUCE IT. SMC DAYALDAS SACHDEV ITA NO.278 OF 2019 2 4 THAT THE LEARNED INCOME TAX OFFICER HAS ERRED IN OVERLOOKING THE INCOME OF RS. 2,15,170 FROM LONG TERM CAPITAL GAIN ON SALE OF HOUSE PROPERTY DECLARED BY THE APPELLANT IN THE RETURN O F TOTAL INCOME WHILE MAKING ADDITIONS TO TOTAL INCOME OF RS. 10,99,249. 5 THAT THE LEARNED COMMISSIONER OF INCOME TAX (APPE ALS) HAS ALSO ERRED IN LAW IN CONFIRMING THE ASSESSMENT ORDER WI THOUT GRANTING OPPORTUNITY OF BEING HEARD TO THE APPELLANT AND EVE N WITHOUT GOING THROUGH THE ASSESSMENT RECORD. 6 THAT THE APPELLANT PRAY YOUR HONOUR TO SET ASIDE THE ADDITIONS OF RS. 10,99,249 MADE TO THE TOTAL AND TAXABLE INCOME MAD E BY THE INCOME TAX OFFICER 2. AT THE OUTSET OF THE HEARING, LD. COUNSEL FOR TH E ASSESSEE CONTENDED THAT NO PROPER AND MEANINGFUL OPPORTUNITY OF BEING HEARD WAS GIVEN TO THE ASSESSEE BY THE LD. CIT(A). HE SUBMITTED THAT ON 02 .05.2018, 22.05.2018 & 06.07.2018, HE WAS INFORMED THAT LD. CIT(A) WOULD N OT BE ATTENDING THE OFFICE ON THESE DAYS. IT WAS FURTHER SUBMITTED THAT THE CO UNSEL HIMSELF HAD GONE TO THE OFFICE OF THE LD. CIT(A) AND FOUND THAT LD. CIT (A) WAS NOT AVAILABLE. THEREFORE, IT WAS PRAYED THAT LD. CIT(A) MAY BE DIR ECTED IN THIS REGARD. ON THE OTHER HAND, LD. SR. DR DID NOT OBJECT TO THE SUBMIS SION OF THE LEARNED COUNSEL FOR THE ASSESSEE. 3. I HAVE HEARD BOTH THE PARTIES AND PERUSED THE OR DERS OF LOWER AUTHORITIES. CONSIDERING THE FACTS AND CIRCUMSTANCE S OF THE CASE, I AM OF THE VIEW THAT IN THE INTEREST OF JUSTICE, THE ASSESSEE S MATTER IS LIABLE TO BE RECONSIDERED BY THE LD. CIT(A). ACCORDINGLY, THE IM PUGNED ORDER IS SET ASIDE AND THE MATTER IS RESTORED BACK TO THE FILE OF THE LD. CIT(A). THE LD. CIT(A) SHOULD DECIDE THE APPEAL AFRESH IN TERMS AS INDICAT ED HEREINABOVE AFTER SMC DAYALDAS SACHDEV ITA NO.278 OF 2019 3 AFFORDING DUE OPPORTUNITY OF BEING HEARD TO THE ASS ESSEE AS PER LAW AND THE ASSESSEE IS ALSO DIRECTED TO COOPERATE/APPEAR BEFOR E LD. CIT(A) IN THIS REGARD. 4. IN RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOW ED FOR STATISTICAL PURPOSES ONLY. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 28.05.20 20. SD/ - (KUL BHARAT) JUDICIAL MEMBER DATED : 28.05.2020 PATEL/PS COPY TO: APPELLANT/RESPONDENT/PR.CIT(A)/PR.CIT/DR, INDORE