Shrikant Bhagwan Waghmare, Pune V. Income tax Officer,

ITA 2909/PUN/2016

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 8802 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-11-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 20-12-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SREEVISAKH R K
• Keywords: Capital Gains
• Section: 2(14); 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUNE BEFORE SHRI D. KARUNAKARA RAO , ACCOUNTANT MEMBER AND SHRI VIKAS AWASTHY, JM . / ITA NO . 2909 /P U N/201 6 / ASSESSMENT YEAR : 20 11 - 12 SHRIKANT BHAGWAN WAGHMARE, 397, WAGHMARE VASTI, SANTNAGAR VAKORI FATA, J J KALUBHAI NAGAR, WAGHOLI, DIST PUNE 412207 PAN: AATPW1422F ....... / APPELLANT / V/S. INCOME TAX OFFICER, WARD 12(4), PUNE / RESPONDENT ASSESSEE BY : NONE REVENUE BY : SHRI SREEVISAKH R.K. / DATE OF HEARING : 20 - 0 9 - 2019 / DATE OF PRONOUNCEMENT : 20 - 11 - 2019 / ORDER PER VIKAS AWASTHY, JM : TH IS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS), PUNE - 5, PUNE , DATED 1 2 - 0 8 - 201 6 FOR THE ASSESSMENT YEAR 20 11 - 12 . 2 ITA NO . 2909 /PUN/201 6 A.Y. 20 11 - 12 2. THE APPEAL WAS CALLED TWICE, NONE APPEARED TO REPRESENT THE ASSESSEE. A PERUSAL OF THE FILE SHOWS THAT NOTICE OF THE APPEAL FOR TODAY WAS SENT TO THE ASSESSEE THROUGH RPAD ON 10 - 10 - 2019. THE NOTICE WAS DULY SERVED ON THE ASSESSEE AS IS EVIDENT FROM THE A CKNOWLEDGEMENT CARD AVAILABLE ON RECORD . DESPITE SERVICE OF NOTICE, NEITHER THE ASSESSEE NOR ANY AUTHORIZED REPRESENTATIVE OF THE ASSESSEE HAS APPEARED IN THE COURT. EVEN THERE IS NO REQUEST FROM THE ASSESSEE SEEKING ADJOURNMENT. IN THE PAST , TWO OCCASI ONS I.E. 14 - 08 - 2019 AND 03 - 10 - 2019 , NONE APPEARED TO REPRESENT THE ASSESSEE. IT SEEMS THAT THE ASSESSEE IS NOT KEEN TO PURSUE HIS APPEAL. UNDER SUCH CIRCUMSTANCES, WE DEEM IT APPROPRIATE TO TAKE UP THE APPEAL FOR HEARING WITH THE ASSISTANCE OF LD. DR AND THE MATERIAL AVAILABLE ON RECORD. 3. THE ASSESSEE IN APPEAL HAS RAISED SOLITARY ISSUE OF TAXABILITY OF CAPITAL GAINS ARISING ON PURPORTED SALE OF AGRICULTURAL LAND. THE OTHER CONNECTED ISSUE RAISED IN THE APPEAL IS THE YEAR OF TAXABILITY OF CAPITAL GAIN S ON SALE OF AFORESAID LAND. 4. SHRI SREEVISAKH R.K. REPRESENTING THE DEPARTMENT VEHEMENTLY DEFENDED THE IMPUGNED ORDER AND PRAYED FOR DISMISSING THE APPEAL OF ASSESSEE. THE LD. DR SUBMITTED THAT THE ASSESSING OFFICER HAD MADE ADDITION OF RS.2,20,85,000/ - ON ACCOUNT OF CAPITAL GAINS ARISING FROM SALE OF LAND. THE ASSESSEE HAD SOLD THE LAND FOR CONSIDERATION OF RS.4,41,70,000/ - AND HAS EARNED CAPITAL GAIN OF RS.2,20,85,000/ - . THE ASSESSEE CLAIMED THE LTCG AS EXEMPT U/S 2(14) OF THE ACT. THE ASSESSING OFFICER HAS GIVEN CATEGORIC FINDING THAT THE ASSESSEE IS NOT AN AGRICULTURIST AND THE LAND WAS NOT PURCHASED FOR AGRICULTURAL PURPOSES. THE LD. DR 3 ITA NO . 2909 /PUN/201 6 A.Y. 20 11 - 12 FURTHER POINTED THAT THE CIT(A) HAS CONSIDERED THE SUBMISSIONS OF ASSESSEE IN APPELLATE PROC EEDINGS AND HAS THEREAFTER GIVEN DETAILED FINDING . THE CIT(A) HAS GRANTED PART RELIEF TO THE ASSESSEE AND HAS REMITTED THE ISSUE BACK TO THE FILE OF ASSESSING OFFICER FOR RE - WORKING CAPITAL GAINS. 5. WE HAVE HEARD THE SUBMISSIONS MADE BY LD. DR AND HAVE PERUSED THE ORDERS OF AUTHORITIES BELOW. WE HAVE NOT COME ACROSS ANY MATERIAL CONTRARY TO THE FINDINGS OF CIT(A). THEREFORE, WE FIND NO REASON TO INTERFERE WITH THE FINDINGS OF FIRST APPELLATE AUTHORITY. THE IMPUGNED ORDER IS THUS, UPHELD AND THE APPEA L OF ASSESSEE IS DISMISSED. 6 . IN THE RESULT , THE APPEAL BY ASSESSEE IS DISMISSED . ORDER PRONOUNCED IN OPEN COURT ON WEDNESDAY THE 20 TH DAY OF NOVE MBER , 2019 . SD/ - SD/ - ( D.KARUNAKARA RAO ) (VIKAS AWASTHY) ACCOUNTANT MEMBER JUDICIAL MEMBER / PUNE; / DATED : 20 TH NOVE MBER , 2019 GCVSR / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) , PUNE - 5, PUNE . 4. THE PR. CIT , PUNE - 4, PUNE . 5. , , , / DR, ITAT, A BENCH, PUNE. 6. / GUARD FILE. / BY ORDER, // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE