M/s. Shree Balaji Ventures, Pune V. Deputy Commissioner of Income-tax, Circle - 7, Pune

ITA 504/PUN/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 2261 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 1 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-05-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 31-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER ITA No.504/PUN/2019 निर्धारण वषा / Assessment Year : 2013-14 M/s. Shree Balaji Ventures 5, San Mahu Complex, Opp. Poona Club, Camp, Pune PAN : AADAS8344K Vs. DCIT, Circle 7, Pune Appellant Respondent आदेश / ORDER PER R.S. SYAL, VP : This appeal by the assessee is directed against the order passed by the CIT(A), Pune-5, Pune on 15-06-2017 in relation to the assessment year 2013-14 2. The only issue raised in this appeal is against the confirmation of addition of Rs.43,09,200 under the head „Income from House property‟, being, the Annual letting value of the unsold units lying as stock in trade. 3. The facts of the case are that the assessee is engaged in the business as builder and developer. It was having closing stock of Assessee by Shri Krishna Gujarathi Revenue by Shri Suhas Dabade Date of hearing 12-05-2022 Date of pronouncement 13-05-2022 ITA No.504/PUN/2019 M/s. Shree Balaji Ventures 2 two show-rooms and one office. The Assessing Officer (AO) computed gross letting value of the show-rooms and office at Rs.61.56 lakhs. After allowing standard deduction of Rs.18.46 lakhs, he determined the annual letting value at Rs.43.09 lakhs, for which the addition was made. The ld. CIT(A) affirmed the addition. 4. We have heard the rival submissions and perused the relevant material on record. It is seen that similar issue came up for consideration before the Tribunal in assessee‟s own case for the A.Y. 2015-16. Vide its order dated 19.02.2019, a copy of which has been placed on record, the Tribunal has deleted such addition. Respectfully following the precedent, we order to delete the addition. 5. In the result, the appeal is allowed. Order pronounced in the Open Court on 13 th May, 2022. Sd/- Sd/- (PARTHA SARATHI CHAUDHURY) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT प ु णे Pune; ददिधांक Dated : 13 th May, 2022 GCVSR ITA No.504/PUN/2019 M/s. Shree Balaji Ventures 3 आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: 1. अपीऱधर्थी / The Appellant; 2. प्रत्यर्थी / The Respondent; 3. The CIT(A), Pune-5, Pune 4. 5. The Pr.CIT, Pune-4, Pune विभागीय प्रविविवि, आयकर अपीलीय अविकरण, पुणे “B” / DR „B‟, ITAT, Pune 6. गार्ड फाईल / Guard file आदेशान ु सार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 12-05-2022 Sr.PS 2. Draft placed before author 12-05-2022 Sr.PS 3. Draft proposed & placed before the second member JM 4. Draft discussed/approved by Second Member. JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *