GULSHAN MOHD ARIF TASE, THANE V. ITO WD 2(4), NAVI MUMBAI

ITA 3242/MUM/2017

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 4180 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 11 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-04-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2012-2013
• Appeal Filed On: 03-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Capital asset; Capital Gains
• Section: 54B; 54F

Judgement Text

म ु ंबई ठ “ज ” , ं म ज त " ं#, $% $ म& IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ं. 3242/म ु ं/2017( *. .2012-13) ITA NO. 3242/MUM/2017 (A.Y.2012-13) Gulshan Mohd. Arif Tase, Gulshan Bungalow, Mira Bhayander Road, Mira Road (E), Dist. Thane – 401 107. PAN: ADKPT-5999-C बनाम/ Vs. : अपीलाथ / Appellant Income Tax Officer , Ward 2(4), 6 th Floor, Room No.8, A-Wing Ashar IT Park, Road No.16-Z, Wagle Industrial Estate, Thane(W) – 400 604 : थ / Respondent Appellant by : None Respondent by : Shri Hoshang B. Irani सुनवाई की तारीख/ Date of Hearing : 19/04/2022 घोषणा की तारीख / Date of Pronouncement : 21/04/2022 आदेश/ ORDER PER VIKAS AWASTHY, JM: This appeal by the assesseeis is directed against the order of Commissioner of Income Tax(Appeals)-1, Thane [in short 'the CIT(A)’] dated 28/02/2017 for the assessment year 2012-13. 2 ITA NO. 3242/MUM/2017 (A.Y.2012-13) 2. This appeal was filed by the assessee on 04/05/2017. The appeal was first listed for hearing on 04/09/2018. The notice of hearing of the appeal was communicated to the assessee vide notice sent through RPAD on 13/08/2018 on the address mentioned in Form No.36. Despite repeated notices neither the assessee nor any Authorized Representative for the assessee ever appeared before the Tribunal. A perusal of the appeal file shows that the appeal was listed for effective hearing before the Bench 16 times, since 04/09/2018. It is relevant to mention here that the assessee has not even filed letter seeking adjournments on any of the dates fixed for hearing. It seems that the assessee is not keen to pursue his appeal before the Tribunal. Thus, we are constrained to take up this appeal for hearing on the basis of material available on record and with the assistance of ld. Departmental Representative. 3. Shri Hoshang B. Irani, representing the Department submitted that the Assessing Officer vide order dated 31/03/2015 had made addition of Rs.2,54,24,000/- under the head ‘Capital Gains’. The Assessing Officer had also disallowed assessee’s claim of deduction u/s. 54B and 54F of the Income Tax Act, 1961 ( in short ‘the Act’). The CIT(A) upheld the assessment order as the assessee had failed to substantiate that the property sold was agricultural property and also that the assessee is eligible for claiming exemption u/s. 54B and 54F of the Act. The ld. Departmental Representative prayed for dismissing appeal of the assessee and upholding the impugned order. 4. We have heard the submissions made by ld. Departmental Representative and have examined the orders of authorities below. The 3 ITA NO. 3242/MUM/2017 (A.Y.2012-13) assessee has sold the property/land situated at Mauje Kasha, S.No.13/1 admeasuring 4670 sq. metres. The assessee had sold the afore said property to M/s. Sai Raj Developers Ltd. for a consideration of Rs.3,85,24,500/- on 25/11/2011. The assessee had purportedly invested the sale proceeds for purchase of agricultural land and claimed exemption of Rs.2,12,52,580/- u/s. 54B. The assessee also made investment in residential house and claimed exemption u/s. 54F of the Act Rs. 1,03,59,110/-. The claim made by the assessee in respect of exemption claimed u/s.54B and 54F were not found tenable by the Assessing Officer. The Assessing Officer made addition to the extent of capital gains earned on sale of capital asset i.e. Rs. 2,54,24,000/-. The assessee assailed the addition in appeal before CIT(A). The CIT(A) upheld the findings of the Assessing Officer, hence, the present appeal. No material is brought on record by the assessee to controvert the findings of CIT(A), hence, we do not find any reason to reverse the findings of CIT(A). 5. In the result, impugned order is upheld and appeal by the assessee is dismissed. Order pronounced in the open Court on Thursday, the 21st day of April, 2022. Sd/- Sd/- (AMARJIT SINGH) (VIKAS AWASTHY) $% /ACCOUNTANT MEMBER /JUDICIAL MEMBER म ु ंबई/ Mumbai, , * ं /Dated: 21/04/2022 Vm, Sr. PS(O/S) 4 ITA NO. 3242/MUM/2017 (A.Y.2012-13) े Copy of the Order forwarded to : 1. -/The Appellant , 2. . ! / The Respondent. 3. ु /!( )/ The CIT(A)- 4. ु /! CIT 5. 0 1 . ! * , . . ., म ु बंई/DR, ITAT, Mumbai 6. 1 23 4 5 /Guard file. BY ORDER, //True Copy// (Dy./Asstt. Registrar) ITAT, Mumbai