Smt Yarlagadda Vijaya Kumari, Gudivada V. The ACIT, Circle-1(1), Vijayawada

ITA 547/VIZ/2009

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 2847 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 8 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-09-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 01-04-2010
• Assessment Year: 2006-2007
• Appeal Filed On: 29-12-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: D S SUNDAR SINGH

Judgement Text

ITA NO 547 OF 09 YARLAGADDA VIJAYA KUMARI, GUDIVADA PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER ITA NO.547/VIZAG/2009 ASSESSMENT YEAR: 2006 - 07 YARLAGADDA VIJAYA KUMARI, GUDIVADA VS. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(1) VIJAYAWADA (APPELLANT) PAN NO: ADAPV 9203 F (RESPONDENT) APPELLANT BY: SHRI G.V.N. HARI, CA RESPONDENT BY: SHRI D.S.SUNDAR SINGH, D.R ORDER PER SHRI B. R. BASKARAN, ACCOUNTANT MEMBER: THE APPEAL OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 15.10.2009 PASSED BY LD. CIT(A), VIJAYAWADA AND IT RELATES TO THE ASSESSMENT YEAR 2006-07. 2. THE GROUNDS RAISED BY THE ASSESSEE RELATE TO THE FOLLOWING TWO ISSUES:- A) DIFFERENCE IN VALUATION OF TWO PROPERTIES RS. 9,13,776/- B) LOAN TAKEN IN THE NAME OF ASSESSEES SON- RS.2, 00,000/-. 3. THE FIRST ISSUE RELATES TO THE DIFFERENCE IN THE COST OF CONSTRUCTION OF TWO PROPERTIES. THE ASSESSEE ALONG WITH OTHERS HAD CONSTRUCTED TWO PROPERTIES AT TWO PLACES NAMED AYYAPPANTHANGAL AND NEELANGARAI IN CHENNAI. THE ASSESSING OFFICER REFERRED THE MATTER OF VALUATION TO THE DVO. ON THE BASIS OF DVOS REPORT ARRIVED AT THE DI FFERENCE IN THE COST OF ITA NO 547 OF 09 YARLAGADDA VIJAYA KUMARI, GUDIVADA PAGE 2 OF 3 CONSTRUCTION OF TWO PROPERTIES AT RS.7,47,749/- AND RS.7,48,769/- RESPECTIVELY AND THE SAME WERE ADDED TO THE TOTAL I NCOME OF THE ASSESSEE. IN THE APPEAL PREFERRED BY THE ASSESSEE, LEARNED CIT (A) GRANTED REBATE OF 15% IN THE COST OF CONSTRUCTION, BY FOLLOWING THE D ECISION OF HON'BLE ITAT IN THE CASE OF SALMA A MEHDI IN ITA NOS.697 & 698/HYD/ 93 AND ITA NOS. 806 & 807/HYD/93 DATED 20-06-94. ACCORDINGLY THE ADDIT IONS IN RESPECT OF THE ABOVE SAID TWO PROPERTIES WERE REDUCED TO RS.3,42,9 93/- AND RS.5,70,783/- STILL AGGRIEVED, THE ASSESSEE IS IN APPEAL BEFORE U S. 3.1 WE HAVE HEARD THE RIVAL CONTENTIONS ON THIS ISSUE. BOTH THE IMPUGNED PROPERTIES HAVE BEEN CONSTRUCTED IN CHENNA I, ONE OF THE METROPOLITANS OF OUR COUNTRY. ACCORDING TO THE ASS ESSING OFFICER, THE DVO HAS ALREADY MADE NECESSARY ADJUSTMENTS IN THE CPWD RATES IN ORDER TO MAKE IT SUITABLE TO ADOPT FOR THE PURPOSES OF VALUA TION OF THE PROPERTIES LOCATED IN CHENNAI. HOWEVER, THE LEARNED CIT(A) HA S GIVEN FURTHER REBATE OF 15% IN THE COST OF CONSTRUCTION BY FOLLOWING THE TRIBUNALS DECISION REFERRED SUPRA. THOUGH THE LEARNED A.R PLEADED THA T A FURTHER REDUCTION BE CONSIDERED, YET, IN THE ABSENCE OF ANY OTHER MAT ERIAL TO COMPEL US TO INTERFERE WITH THE ORDER OF LEARNED CIT(A), WE ARE UNABLE TO AGREE WITH HIS REQUEST. IN THESE CIRCUMSTANCES, WE HAVE NO OTHER O PTION BUT TO CONFIRM THE ORDER OF LEARNED CIT(A) ON THIS ISSUE. 4. THE NEXT ISSUE RELATES TO THE ADDITION OF RS .2.00 LAKHS RELATING TO THE GOLD LOAN CLAIMED TO HAVE BEEN TAKEN BY THE ASSESSE E IN THE NAME OF HER SON FOR THE PURPOSE OF CONSTRUCTION. THE ASSESSEE COULD NOT PRODUCE ANY MATERIAL OR EVIDENCE IN SUPPORT OF HER CLAIM THAT G OLD LOAN WAS TAKEN IN THE NAME OF HER SON NAMED MR.MADHU KIRAN. IN THE ABSENC E OF ANY DIRECT EVIDENCE, THE LEARNED CIT(A) HAS CONFIRMED THE SAID ADDITION. BEFORE US ITA NO 547 OF 09 YARLAGADDA VIJAYA KUMARI, GUDIVADA PAGE 3 OF 3 ALSO, THE ASSESSEE COULD NOT FILE ANY EVIDENCE. HE NCE WE HAVE NO OTHER OPTION BUT TO CONFIRM THE ORDER OF LEARNED CIT(A) O N THIS ISSUE ALSO. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISM ISSED. PRONOUNCED IN THE OPEN COURT ON 8 TH SEPTEMBER, 2010. SD/- SD/- (SUNIL KUMAR YADAV) (B R BASKARAN ) JUDICIAL MEMBER ACCOUNTANT MEMBER PVV/SPS VISAKHAPATNAM, DATE: 8-9-2010 COPY TO 1 SMT. YARLAGADDA VIJAYA KUMARI, C/O PURNACHANDRA R AO & CO., CA SIVALAYAM STREET, GOWRISANKARAPURAM, GUDIVADA 521 3 01 2 THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1( 1) VIJAYAWADA 3 4. THE CIT VIJAYAWADA THE CIT(A), VIJAYAWADA 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM