Shri Manoj Kumar Dubey, Indore V. The ITO 1(3), Indore

ITA 437/IND/2013

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 4865 (ITAT-INDORE)
• Duration Of Justice: 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-08-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 11-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Value adopted by valuation officer; Valuation report

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , INDORE BENCH, INDORE BEFORE SHRI JOGINDER SINGH, J.M. AND SHRI R.C.SHARM A, A.M. PAN NO. : ALEPD7549K I.T.A.NO. 437/IND/2013 A.Y. : 2009-10 SHRI MANOJ DUBEY, 8, DUBEY COLONY, INDORE. VS. ITO, 1(3), INDORE. APP LICANT RESPONDENT APPELLANT B Y : SHRI S.S.DESHPANDE, C. A. RESPONDENT BY : SHRI R. A. VERMA, SR. DR DATE OF HEARING : 30 . 0 8 .201 3 DATE OF PRONOUNCEMENT : 30 . 0 8 .201 3 O R D E R PER R. C. SHARMA, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE EX- PARTE ORDER OF CIT(A) DATED 13.3.2013 FOR THE ASSES SMENT YEAR 2009-10. 2. RIVAL CONTENTIONS HAVE BEEN CONSIDERED AND RECORDS PERUSED. FROM THE RECORD, WE FOUND THAT THE ASSESS EE IS AN -: 2: - 2 INDIVIDUAL DERIVING INCOME FROM PROFESSION AS A CON SULTING CHARTERED ENGINEER, VALUER AND INSURANCE SURVEYOR. THE RETURN OF INCOME WAS FILED DECLARING THE TOTAL INCO ME AT RS. 5,38,540/-. THE CAPITAL GAIN WAS SHOWN AT NIL BY CL AIMING EXEMPTION U/S 54 OF RS. 50 LACS. THE ASSESSEE HAS RECEIVED PROPERTY IN A WILL FROM HIS FATHER, WHICH WAS SOLD DURING THE YEAR. WHILE CALCULATING CAPITAL GAINS, THE ASSESSEE DECLARED VALUE OF PROPERTY AS ON 1.4.1981 AT RS. 14,91,000/ -, WHICH WAS DULY SUPPORTED BY THE VALUATION REPORT OF THE R EGISTERED VALUER. 3. ADDITION WAS MADE BY THE ASSESSING OFFICER ON THE BASIS OF DVO REPORT IN RESPECT OF VALUATION OF PROP ERTY AS ON 1.4.1981. THE ASSESSEE HAS FILED REGISTERED VALUER S REPORT IN SUPPORT OF THE VALUATION ARRIVED AT RS. 14,91,000/- AS ON 1.4.1981, WITHOUT FINDING ANY FAULT IN THE REGISTER ED VALUERS REPORT, THE ASSESSING OFFICER HAS SIMPLY TAKEN THE VALUATION ARRIVED AT BY THE DVO AT RS. 4,02,851/-. CONTENTION OF ASSESSEE WAS THAT SOME CONSTRUCTION WAS UNDERTAKEN BY THE ASSESSEE IN THE YEAR 1984-85, HOWEVER, THE DVO HAS NOT TAKEN -: 3: - 3 INTO ACCOUNT THE AMOUNT INVESTED IN THE YEAR 1984-8 5. THUS, THE COST OF IMPROVEMENT OF ABOUT 71 SQ.MTRS IN THE SHAPE OF CONSTRUCTION OF ROOMS AND GARAGE AND SERVANT QUARTE RS WERE NOT CONSIDERED. THE LD. CIT(A) HAS DISMISSED THE AP PEAL FOR NON-PROSECUTION. CONTENTION OF ASSESSEE, WHO PERSON ALLY APPEARED BEFORE THE BENCH WAS THAT THERE WAS A TELE PHONE CALL FROM THE OFFICE OF LD. CIT(A) FOR TAKING AN ADJOURN MENT ON THE DATE FIXED FOR HEARING ON 15.2.2013, THEREAFTER, TH E APPEAL WAS DECIDED EX-PARTE BY THE LD.CIT(A) ON 13.3.2013. HOW EVER, THE CIT(A) HAS NOT DECIDED THE APPEAL ON MERITS AS PER REQUIREMENT OF PROVISIONS OF SECTION 250(6) OF INCO ME-TAX ACT, 1961. IN THE INTEREST JUSTICE AND FAIR PLAY, THE AP PEAL IS RESTORED BACK TO THE FILE OF CIT(A) FOR DECIDING TH E ISSUE ON MERIT AFTER GIVING DUE OPPORTUNITY TO THE ASSESSEE. THE ASSESSEE IS ALSO DIRECTED TO APPROACH THE LD. CIT(A ) WITHIN 15 DAYS FROM THE DATE OF RECEIPT OF THIS ORDER OF TRIB UNAL. THE ASSESSEE IS ALSO DIRECTED TO COOPERATE WITH CIT(A) IN ALL RESPECTS FOR EARLY DISPOSAL OF APPEAL. WE DIRECT AC CORDINGLY. 4. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. -: 4: - 4 THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 30 TH AUGUST, 2013. SD/- SD/- (JOGINDER SINGH) (R. C. SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 30 TH AUGUST, 2013. CPU* 308