ACIT, BIKANER V. Sh. Prabhu Ram Bhargava, NOKHA

ITA 456/JODH/2010

• Counselvise Citation: 45623314 RSA 2010
• Duration Of Justice: 1 year(s) 4 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 14-12-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 04-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G R KOKANI
• Keywords: Tax effect
• Section: 2

Judgement Text

1 ITA 456-10 IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH JODHPUR. ( BEFORE SHRI R.K. GUPTA AND SHRI N.L. KALRA ) ITA 456/JODH/2010 ASSTT. YEAR : 2006-07. THE ACIT, RANGE-1, VS. SHRI PRABHU RAM BHARGAVA , BIKANER. BEHIND BUS STAND, NOKHA, BIKANER. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI G.R. KOKANI RESPONDENT BY : NONE DATE OF HEARING : 14.12.2011. DATE OF PRONOUNCEMENT : 15.12.2011. ORDER DATED : 15/12/2011. PER R.K. GUPTA, J.M. THIS IS AN APPEAL BY DEPARTMENT AGAINST THE ORDER OF LD. CIT (A) RELATING TO ASSESSMENT YEAR 2006-07. 2. THE DEPARTMENT IS OBJECTING IN DELETING THE ADDI TION OF RS. 1,70,000/- ON ACCOUNT OF UNEXPLAINED SOURCE OF DEPOSIT IN THE BANK ACCOUN T AND DIRECTING THE ASSESSING OFFICER TO MODIFY THE CAPITAL GAIN IN ACCORDANCE WITH CLAIM MADE BY ASSESSEE WHICH RESULTED IN RELIEF OF RS. 6,53,555/-. 3. IN CASE OF CAPITAL GAIN, THE RATE OF TAX IS 20% AND IF THIS ASPECT IS TAKEN INTO CONSIDERATION THEN IT IS SEEN THAT TAX EFFECT IS LE SS THAN RS. 2,00,000/- IN ITS TOTALITY. THEREFORE, THE APPEAL OF THE DEPARTMENT IS NOT MAIN TAINABLE IN VIEW OF PROVISIONS OF 2 SECTION 268A OF THE IT ACT. ACCORDINGLY, WE DISMIS S THE APPEAL OF THE DEPARTMENT IN LIMINI. 4. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 15. 12.2011. SD/- SD/- ( N.L. KALRA ) ( R.K. GUPTA ) ACCOUNTANT MEMBER JUDICIAL MEMBER JODHPUR, COPY FORWARDED TO :- THE ACIT, RANGE-1, BIKANER. SHRI PRABHU RAM BHARGAVA, BIKANER. THE CIT (A) THE CIT THE D/R GUARD FILE (ITA NO. 456/JODH/2010) BY ORDER, AR ITAT JODHPUR.