Mr Shankar Vithoba Kate, Pune V. Income-Tax Officer, Ward 10(3), , Pune

ITA 614/PUN/2022

AI Insights

The case involves Shankar Vithoba Kate, the appellant, contesting an order from the Commissioner of Income Tax (Appeals) which treated a refundable deposit of Rs.15,66,667 as part of sales proceeds for the assessment year 2012-13. The deposit was received from a developer under an agreement that stipulated the return of the deposit upon receipt of a constructed area. Disputes led to civil and criminal suits, and the deposit had not been refunded as the developer failed to deliver the constructed area. The Income Tax Appellate Tribunal (ITAT) in Pune decided to set aside the case to the AO for a fresh examination, allowing the assessee to present additional documents.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 134323 (ITAT-PUNE)
• Duration Of Justice: 5 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-01-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 12-01-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 01-08-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

आयकर अपीलीय अिधकरण “बी” Ɋायपीठ पुणेमŐ। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “B” :: PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.614/PUN/2022 िनधाᭅरण वषᭅ / Assessment Year : 2012-13 Shankar Vithoba Kate, Sr.No.21/3, Kate Vasti, Puynawale, Mulshi, Pune – 411033. PAN: BQLPK 9534 M V s The ITO, Ward-10(3), Pune. Appellant/ Assessee Respondent /Revenue Assessee by Shri Parag Bhujbal – AR Revenue by Shri M.G.Jasnani – DR Date of hearing 13/01/2023 Date of pronouncement 18/01/2023 आदेश/ ORDER PER DR. DIPAK P. RIPOTE, AM: This appeal filed by the Assessee is directed against the order of ld.Commissioner of Income Tax(Appeals)[NFAC], Delhi dated 01.06.2022 for A.Y. 2012-13 emanating from the order of the AO passed under section 143(3) r.w.s 147 of the I.T.Act, 1961 dated 30.12.2019. The Assessee has raised the following grounds of appeal: “1. Whether of facts and circumstances of the case, the ld. CIT(A) was justified in treating Rs.15,66,667/- refundable deposit received assessee as part of sales proceeds.” ITA No.614/PUN/2022 Shankar Vithoba Kate [A] 2 2. The only issue for consideration is taxability of Rs.15,66,667/-, which has been claimed by the assessee as refundable deposit. During the hearing, the ld.AR submitted that Rs.15,66,667/- is the refundable deposit received by the assessee from the developer. As per the agreement, on receipt of the total constructed area as mentioned in the agreement, the assessee was to return the refundable deposit of Rs.15,66,667/-. However, both assessee and the developer filed Civil Suit before Judicial Magistrate. Assessee filed copies of the Special Civil Suit and Criminal Suit No.347 / 2016. Ld.AR admitted that copies of these civil and criminal suits were not available before the AO. The ld.AR also submitted that till date the amount of Rs.15,66,667/- has not yet been refunded to the developer, as the developer has not handed over the required constructed area. In this case, it is a fact that the copies of Civil and Criminal Suits were not filed before the AO. Therefore, in the interest of justice, this appeal is set-aside to the AO for denovo adjudication after giving opportunity to the assessee. Assessee shall file all the documents before the AO. Accordingly, grounds of appeal raised by the assessee are allowed for statistical purposes. 3. In the result, appeal of the assessee is allowed for statistical purpose. Order pronounced in the open Court on 18 th January, 2023. Sd/- Sd/- (S.S.GODARA) (DR. DIPAK P. RIPOTE) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 18 th Jan, 2023/ SGR* ITA No.614/PUN/2022 Shankar Vithoba Kate [A] 3 आदेशकᳱᮧितिलिपअᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A), concerned. 4. The Pr. CIT, concerned. 5. िवभागीयᮧितिनिध, आयकर अपीलीय अिधकरण, “बी” बᱶच, पुणे / DR, ITAT, “B” Bench, Pune. 6. गाडᭅफ़ाइल / Guard File. आदेशानुसार / BY ORDER, // TRUE COPY // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे/ITAT, Pune.