ITO, Hyderabad V. Late.Mujtaba khan rep.byLRs of Mujtaba khan, Hyderabad

ITA 488/HYD/2009

• Counselvise Citation: [2010] 119 COUNSELVISE.COM (IT) 5887 (ITAT-HYDERABAD)
• Duration Of Justice: 11 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-03-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 10-03-2010
• Assessment Year: 2001-2002
• Appeal Filed On: 13-04-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: E NAGENDRA PRASAD
• Assessee Lawyers: S RAMA RAO

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B , HYDERABAD BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI CHANDRA POOJARI ACCOUNTANT MEMBER ITA NO.488/HYE/2009 ASSTT. YEAR : 200 1-02 ITA NO.489/HYD/2009 2005-06 ITO, WARD 7 (1), HYDERABAD VS SRI MOHD. MUSTAFA KHAN LR OF MAJTABA KHAN, HYDERABAD (PAN AEOPA 0068E/M-1839) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI E. NAGENDRA PRASAD RESPONDENT BY : SHRI S. RAMA RAO O R D E R PER: CHANDRA POOJARI, ACCOUNTANT MEMBER THESE TWO APPEALS PREFERRED BY THE REVENUE IS DIRECTE D AGAINST THE COMMON ORDER PASSED BY THE CIT(A) VIJAYAWA DA DATED 30.1.2008 AND PERTAINS TO THE ASSESSMENT YEAR 2001-02 AN D 2005-06. SINCE ISSUES INVOLVED IN THESE TWO APPEALS ARE COMMON, THE Y ARE CLUBBED TOGETHER, HEARD TOGETHER AND DISPOSED OF BY TH IS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 2. THE REVENUE RAISED THE COMMON GROUNDS: THE CIT(A) ERRED IN FACTS AND IN LAW IN GIVING DIRE CTION TO ADOPT AVERAGE RATE OF CONSTRUCTION WITHOUT CONSIDERING TO DISTURB/MODIFY THE UNDERSTATED SALE CONSIDERATION AS ADOPTED BY TH E ASSESSING OFFICER WOULD RESULT IN CAPITAL LOSS. 3. WE HAVE HEARD BOTH THE PARITIES AND PERUSED THE MATERIAL ON RECORD. AT THE TIME OF HEARING BOTH THE PARTIES C ONCEDED THAT SIMILAR ISSUES WERE CONSIDERED BY THE TRIBUNAL IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEARS 1999-2000 IN ITA NO.506/HYD/200 8 AND THE 2 2 ORDER RELATING TO ASSESSMENT YEAR 1999-2000 HAS BEEN SE T ASIDE BY THE TRIBUNAL VIDE ITS ORDER DATED 9 TH OCTOBER, 2009 TO THE ASSESSING OFFICER TO PASS FRESH ORDER AFTER GIVING ADEQUATE OPPORTUNITY OF HEARING TO THE ASSESSEE. SINCE THE FINDINGS OF THE EARLIER YEAR IS HAVI NG BEARING ON THESE ASSESSMENT YEARS AND ASSESSMENT ORDERS FOR THESE ASSESSMENT YEARS REQUIRED TO BE PASSED CONSEQUENT TO THE PASSING OF THE ASSESSMENT ORDER FOR THE ASSESSMENT YEAR 1999-2000, ACCORDI NGLY THESE TWO APPEALS ARE SET ASIDE TO THE FILE OF ASSESSING O FFICER TO PASS FRESH ORDER IN VIEW OF THE FACT THAT THE CONSTRUCTION OF COMPLEX IN DISPUTE WAS SPREAD OVER DURING DIFFERENT ASSESSMENT YEARS. 4. IN THE RESULT, THE APPEALS OF THE REVENUE IN IT A NOS.488 & 489/HYD/2009 ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT : 19. 3:2010 SD/- SD/- G.C. GUPTA CHANDRA POOJARI VICE PRESIDENT ACCOUNTANT MEMBER DATED 19 TH MARCH, 2010 COPY FORWARDED TO: 1. ITO, WARD 7 (1), HYDERABAD 2. SRI MOHD. MUSTAFA KHAN, LR. OF MUJTABA KHAN, NO.12.2.823/A/204, SANTOSHNAGAR, HYDERABAD 3. CIT(A)- VIJAYAWADA. 4. CIT, HYDERABAD 5. THE D.R., ITAT, HYDERABAD. NP