DCIT (OSD) 2(3), MUMBAI V. SSG REALTORS & DEVELOPERS P.LTD, MUMBAI

ITA 4114/MUM/2012

• Counselvise Citation: 411419914 RSA 2012
• Duration Of Justice: 2 year(s) 6 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 16-12-2014
• Assessment Year: 2005-2006
• Appeal Filed On: 11-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SACHIDNAND DUBEY
• Keywords: Sale consideration of property below Jantri Value
• Section: 50C

Judgement Text

, , ,, , , ,, , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E MUMBAI , . . , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI R.C.SHARMA, ACCOUNTANT MEMBER . / ITA NO.4114/MUM/2012 ! ! ! ! ' ' ' ' / ASSESSMENT YEAR: 2005-06 ACIT-2(3), ROOM NO.552, 5 TH FLOOR, AAYAKAR BHAVAN, M.K.ROAD, MUMBAI-400020 VS. M/S SSG REALTORS & DEVELOPERS PVT. LTD. 302, TARDEO AIR CONDITION MARKET, TARDEO, MUMBAI-400034 ( # / REVENUE) ( $%&' / RESPONDENT ) P.A. NUMBER : AAHCS6528D # ( ) / REVENUE BY: SHRI SACHIDNAND DUBEY $%&' ( ) / RESPONDENT BY SHRI NISHIT GANDHI ! ( *+ / DATE OF HEARING : 16/12/2014 ,-' ( *+ / DATE OF PRONOUNCEMENT : 18/12/2014 O R D E R PER JOGINDER SINGH, JM: THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATE D 19/03/2012 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI. THE REVENUE HAS RAISED FOLLOWING GROUNDS: I. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE CIT(A) HAS ERRED IN QUASHING THE ORDER WITHOUT APPRECIATING THAT THE ASSESSEE AT NO STAGE OBJECTED TO 2 M/S SSG REALTORS & DEVELOPERS PVT. LTD . . THE JURISDICTION WHEN THE NOTICE U/S 143(2) WAS ISSUED. II. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE CIT(A) HAS ERRED ON BASING HIS DECISION ON MISCONCEIVED CONCLUSION DRAWN BY THE ASSESSING OFFI CER IN THE REMAND PROCEEDINGS WHEN THE MATTER HAD BEEN REMANDED ONLY FOR THE ASSESSEES STAND ON JURISDICT ION. III. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE CIT(A) FAILED TO APPRECIATE THAT THE ASSESSING OFFI CER HAS EXCEEDED HIS JURISDICTION IN GIVING AN UNSOLICITED OPINION ON MERITS CONTAINED IN THE ASSESSMENT ORDER AND HEN CE THE REMAND PROCEEDINGS STOOD VITIATED. 2. AT THE TIME OF HEARING, LD DR, SHRI SACHIDANAND DUBEY, DEFENDED THE CONCLUSION DRAWN IN THE ASSESSMENT ORD ER WHEREAS THE LD. COUNSEL FOR THE ASSESSEE, SHRI NISHIT GANDH I, DEFENDED THE CONCLUSION ARRIVED AT IN THE IMPUGNED ORDER. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND P ERUSED THE MATERIAL AVAILABLE ON RECORD. BEFORE COMING TO ANY CONCLUSION, WE ARE REPRODUCING HEREUNDER THE RELEVANT PORTION FROM THE IMPUGNED ORDER 2. THE APPELLANT VIDE LETTER DATED 10/01/2012 SUB MITTED THAT THE JURISDICTION OF THE CASE WAS ACTUALLY NOT WITH DCIT(OSD)2(3), MUMBAI, (VIDE THIS OFFICES LETTER DATED 13/01/2012 , THE ASSESSING OFFICER WAS ASKED TO FURNISH COMMENTS ON APPELLANTS SUBMISSION). 3. THE ACIT-2(3) FURNISHED HIS COMMENTS VIDE LETTER DATED 21/02/2012 WHICH WAS FORWARDED BY ADDL. CIT, RANGE- 2(3) VIDE HIS LETTER DATED 06/03/2012. THE ASSESSING OFFICER AFTER 3 M/S SSG REALTORS & DEVELOPERS PVT. LTD . . EXAMINING THE JURISDICTION AND MERIT OF THE ADDITIO N AT PARA 8 OF HIS LETTER STATED AS UNDER: 8. IN VIEW OF THE ABOVE FACTS, IT IS CLEAR THAT AD DITION U/S 50C OF RS.1,21,39,200/- HAS BEEN WRONGLY MADE. MOREOVE R, THE ASSESSMENT FOR THE SAME A.Y. WAS MADE BY THE DCIT-7 (2), MUMBAI ON 17/12/2007 AT TOTAL INCOME OF RS.72,58,22 7/- WHERE THE ASSESSEE IS REGULARLY ASSESSED TO TAX. 2.2. IF THE OBSERVATION MADE IN THE ASSESSMENT ORDE R, CONCLUSION DRAWN IN THE IMPUGNED ORDER, MATERIAL AVAILABLE ON RECORD AND THE ASSERTIONS MADE BY THE LD. RESPECTIVE COUNSEL, IF KEPT IN JUXTAPOSITION AND ANALYZED, THE COMMENTS WERE SOUGH T FROM THE ASSESSING OFFICER/THE LD. ADDL. CIT, WHO VIDE COMMU NICATION DATED, 06/03/2012, ADMITTED THAT THE ADDITION U/S 5 0C OF THE ACT WAS WRONGLY MADE, THUS, WE FIND NO INFIRMITY IN THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS). THE APPEAL OF THE REVENUE IS DISMISSED. FINALLY, APPEAL OF THE REVENUE IS DISMISSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 16/12/2014. SD/- SD/- (R.C.SHARMA) (JO GINDER SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED - 18/12/2014 F{X~{T? P.S/. ! . . 4 M/S SSG REALTORS & DEVELOPERS PVT. LTD . . ( (( ( $*. $*. $*. $*. /.'* /.'* /.'* /.'* / COPY OF THE ORDER FORWARDED TO : 1. &' / THE APPELLANT 2. $%&' / THE RESPONDENT. 3. 0 ( ) / THE CIT(A)- 4. 0 / CIT 5. .12 $*! , , / DR, ITAT, MUMBAI 6. 23 4 / GUARD FILE. ! ! ! ! / BY ORDER, %.* $* //TRUE COPY// 5 55 5 / 6 6 6 6 # # # # (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI