Pratik Anil Nikam, Pune V. Principal Commissioner of Income-Tax-3, Pune

ITA 37/PUN/2022

AI Insights

The case involves Shri Pratik Anil Nikam, who appealed against the order of the Commissioner of Income Tax (Appeals) for the assessment year 2007-2008. The primary contention in the appeal was related to the alleged long-term capital gains declared by the assessee in response to a notice under Section 148 of the Income Tax Act. The Tribunal, however, focused on the maintainability of the appeal, given that the lower appellate authority had already concluded that no capital asset was transferred by the assessee, which could have resulted in taxable long-term capital gains. The Tribunal cautioned the assessee's counsel about the non-maintainability of the appeal and dismissed it accordingly.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 137359 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2023
• Appeal Filed By: Assessee
• Order Result: DismissedDismissed
• Bench Allotted: B
• Next Hearing Date: 09-02-2023
• Assessment Year: 2007-2008
• Appeal Filed On: 11-01-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Capital Gains
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B” : PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER ITA.No.37/PUN./2022 Assessment Year 2007-2008 Shri Pratik Anil Nikam, Chandrama Bungalow, Sr. No.67/2, Sangamwadi, Pune – 411 003. Maharashtra. PAN AERPN4165Q vs. The Pr. Commissioner of Income Tax Appeal-3, GHQ Office, Golibar Maidan, Pune – 411 037. Maharashtra. (Appellant) (Respondent) For Assessee : Shri B.C. Malakar For Revenue : Shri M.G. Jasnani Date of Hearing : 10.02.2023 Date of Pronouncement : 20.02.2023 ORDER PER SATBEER SINGH GODARA, J.M. This assessee’s appeal for assessment year 2007- 2008, arises against the Commissioner of Income Tax, Appeal, Pune-3, Pune’s Order No.ITBA/APL/S/250/2017- 18/1005044034(1) dated 25.07.2017, involving proceedings under Section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties. Case file perused. 2. It transpires during the course of hearing that before we even advert to the assessee’s condonation averments 2 ITA.No.37/PUN./2022 Shri Pratik Anil Nikam, Pune. regarding delay of 2441 days in filing, there arises a very serious issue of maintainability of instant appeal itself. This is for the precise reason that the CIT(A) has already held in its lower appellate discussion running into 45 pages that the assessee had not even transferred any capital asset which could give rise to taxability of the long term capital gains in issue. It is in view of this clinching fact that we put the learned counsel to caution as to why the instant appeal be non dismissed as not maintainable. 3. Mr. Malakarvehemently argued that the assessee had wrongly declared his alleged long term capital gains as per his return dated 05.02.2015 filed in response to sec.148 notice dated 27.03.2014 and, therefore, he is very much entitled to seek appellate remedy u/s.253 of the Act. All these assessee’s arguments hardly deserve to be accepted once it has come on record that the CIT(A) has already accepted his corresponding arguments in his lower appellate discussion. Faced with the situation, we dismiss the assessee’s instant appeal as an entirety misconceived one. It is further made clear that nothing shall come in assessee’s way to take recourse to any appropriate alternative remedy, if any, available to him in law, if so advised. 4. All other pleadings on merits stands academic therefore. 3 ITA.No.37/PUN./2022 Shri Pratik Anil Nikam, Pune. 5. This assessee’s appeal is dismissed in above terms. Order pronounced in the open Court on 20.02.2023. Sd/- Sd/- [DR. DIPAK P. RIPOTE] [SATBEER SINGH GODARA] ACCOUNTANT MEMBER JUDICIAL MEMBER Pune, Dated 20 th February, 2023 VBP/- Copy to 1. The appellant 2. The respondent 3. The Ld. CIT(A) concerned. 4. The CIT concerned 5. D.R. ITAT, Pune “B” Bench, Pune 6. Guard File. //By Order// Assistant Registrar, ITAT, Pune Benches, Pune.