Anjaiah Yadla , Hyderabad V. Income Tax Officer, Ward-3(2) , Hyderabad

ITA 387/Hyd/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7134 (ITAT-HYDERABAD)
• Duration Of Justice: 8 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 18-03-2021
• Assessment Year: 2008-2009
• Appeal Filed On: 13-07-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: BALA KRISHNA
• Keywords: Sale consideration of property below Jantri Value; Additional evidence; Condonation of delay
• Section: 143(3); 50C; 234B; 147

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH SMC, HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 387/HYD/2020 A.Y. 2008 - 09 ANJAIAH YEDLA, HYDERABAD. PAN: AIEPY 8686 L VS INCOME TAX OFFICER, WARD - 3(2), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SMT. S. SANDHYA REVENUE BY: SHRI BALA KRISHNA, DR DATE OF HEARING: 18/03/2021 DATE OF PRONOUNCEMENT: 08 /04/2021 ORDER THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 10, HYDERABAD IN APPEAL NO. ITAB/APL/S/250/2019 - 20/1024615476(1), DATED 03/02/2020 PASSED U/S. 143(3) R.W.S 147 AND U/S. 250(6) OF THE ACT FOR THE A.Y. 2008 - 09. 2. THE ASSESSEE HAS RAISED EIGHT GROUNDS IN APPEAL AND THEY ARE EXTRACTED HEREIN BELOW FOR REFERENCE: - 1. THE ORDER OF THE LD. CIT(A) IS ERRONEOUS BOTH ON FACTS AND IN LAW. 2. THE LD. CIT(A) ERRED IN HOLDING THAT THE TRANSFER OF HOUSE PROPERTY SITUATED AT D.NO. 8 - 3 - 231/A/393 CONSISTING OF 150 SQ YDS OF LAND AND GROUND AND FIRST FLOOR CONSTRUCTION DURING THE FINANCIAL YEAR 2007 - 08 RELEVANT TO THE A.Y. 2008 - 09. 3. THE LD. CIT(A) OUGHT TO HAVE CONSIDERED THE FACT THAT THE PROPERTY WAS ALREADY HANDED OVER TO THE VENDEE 25/06/2005 ITSELF AND 2 RECEIVED THE ENTI RE SALE CONSIDERATION OF RS. 9 LAKHS ON THE SAID DATE. 4. THE LD. CIT(A) OUGHT TO HAVE SEEN THAT THE APPELLANT THROUGH AN AGREEMENT OF SALE DATED 25/6/2006 RECEIVED RS. 9 LAKHS (RS. 6 LAKHS THROUGH THREE DIFFERENT CHEQUES AND RS. 3 LAKHS IN CASH) BEING THE SALE CONSIDERATION DURING THE YEAR 2005 - 06 ITSELF. 5. THE LD. CIT(A) OUGHT TO HAVE SEEN THAT THE SAID PROPERTY WAS SHOWN AS AN ASSET AS ON 31/3/2006 IN THE STATEMENT OF AFFAIRS AND THE CAPITAL ACCOUNT OF THE VENDEE. 6. THE LD. CIT(A) ERRED IN REJECTING TH E CLAIM OF THE APPELLANT THAT THE SAID SALE DID NOT TAKE PLACE DURING THE YEAR UNDER CONSIDERATION WITHOUT CONSIDERING THE EVIDENCES SUBMITTED AND FURTHER ERRED IN CONFIRMING THE ASSESSMENT MADE BY THE A.O. 7. THE LD. CIT(A) OUGHT TO HAVE HELD THAT THE PRO VISIONS OF SECTION 50C OF THE IT ACT HAVE NO APPLICATION AS THE PROPERTY WAS TRANSFERRED DURING THE YEAR 2005 - 06 ITSELF AND THE MAJOR PART OF THE CONSIDERATION WAS PAID THROUGH CHEQUES DURING THE SAID PERIOD ITSELF AND THEREFORE THE PROVISIONS OF SECTION 5 0C HAVE NO APPLICATION . 8. THE LD. CIT(A) ERRED IN CONFIRMING THE LEVY OF INTEREST U/S. 234A AND 234B OF THE IT ACT. 9. ANY OTHER GROUND THAT MAY BE URGED AT THE TIME OF HEARING. 3 . AT THE OUTSET, LD. AR SUBMITTED BEFORE US THAT THERE IS A DELAY OF 65 D AYS IN FILING THE APPEAL BEFORE THE TRIBUNAL. THE LD. AR FURTHER SUBMITTED THAT SHE SHALL FILE AN AFFIDAVIT BEFORE THE TRIBUNAL SEEKING CONDONATION OF DELAY SHORTLY. THE LD. AR FURTHER SUBMITTED THAT THE ADDITIONAL EVIDENCE FILED BEFORE THE LD. CIT (A) WAS NOT CONSIDERED . IT WAS THEREFORE PLEADED THAT THE MATTER MAY BE REMITTED BACK TO THE FILE OF LD. AO FOR DE - NOVO CONSIDERATION AFTER ADMITTING AND EXAMINING THE ADDITIONAL EVIDENCE . THE LD. DR STRONGLY OBJECTED TO THE SUBMISSION OF THE LD. AR. 4. HOWEVER, TILL DATE THE LD. AR HAS NOT FILED AN AFFIDAVIT STATING THE REASONS FOR THE DELAY OF 65 DAYS IN FILING THE APPEAL BEFORE THE TRIBUNAL. 3 THEREFORE, I DO NOT FIND ANY REASON FOR COND ON ING THE DELAY IN FILING THE APPEAL BEFORE THE TRIBUNAL . ACCORDINGLY, THE DELAY IS NOT CONDONED AND THE APPEAL IS DISMISSED. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE 08 TH APRIL , 2021. SD/ - ( A. MOHAN ALANKAMONY ) ACCOUNTANT MEMBER HYDERABAD, DATED: 08 TH APRIL , 2021. OKK COPY TO: - 1) SHRI ANJAIAH YEDLA, 3 - 603, SCB NAGAR, MIYAPUR, SERILINGAMPALLY, HYDERABAD 500 049. 2) INCOME TAX OFFICER, WARD - 3(2), SIGNATURE TOWERS, KONDAPUR, HYDERABAD. 3) THE CIT (A) - 10, HYDERABAD. 4) THE PRINCIPAL COMMISSIONER OF INCOME TAX - 4, HYDERABAD. 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE