NAWAL KISHORE AGARWAL, Kota V. ITO, Jaipur

ITA 518/JPR/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 4875 (ITAT-JAIPUR)
• Duration Of Justice: 7 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-12-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 12-05-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: NEENA JEPH DHK

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH DQY HKKJR] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS [KK LNL; DS LE{K BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YAD AV, AM VK;DJ VIHY LA-@ ITA NO. 518/JP/2016 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2007-08 SH. NAWAL KISHORE AGARWAL 4-C-7, TALWANDI, KOTA- 342005 CUKE VS. ITO WARD-06 (2), JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO.: ABSPAOO32B VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI P.C. PARWAL JKTLO DH VKSJ LS@ REVENUE BY : SMT. NEENA JEPH LQUOKBZ DH RKJH[K@ DATE OF HEARING : 22/06/2017 ?KKS'K .KK DH RKJH[K @ DATE OF PRONOUNCEMENT: 23/06/2017. VKNS'K@ ORDER PER:SHRI VIKRAM SINGH YADAV, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT(A)- 02, JAIPUR DATED 24.02.2016 WHEREIN THE ASSESSEE HA S TAKEN FOLLOWING GROUNDS OF APPEAL: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE LD. ITO WARD 6(2), JAIPUR ERRED IN DISALLOWING AND SIMULTANEOUSLY LD. CIT(A) ERRED IN SUSTAINING THE DISALLOWANCE OF CLAIM OF RS. 3499260 .00 FOR COST OF IMPROVEMENT AND RENOVATION OUT OF SALE CONSIDERATIO N IN CALCULATING LONG TERM CAPITAL GAIN IN SPITE OF EVIDENCES OF HOU SE LOAN DISBURSEMENT, WHICH WERE ON RECORD. IGNORING THE VI TAL EVIDENCE OF INCURRING RENOVATION AND IMPROVEMENT EXPENSES THE D ISALLOWANCE OF CLAIM IS GROSSLY UNJUSTIFIED, WITHOUT JURISDICTION AND LIABLE TO BE QUASHED.