Meera BEG L/H Of Rahat Rasheed BEG, Pune V. Commissioner of Income-Tax, Pune

ITA 622/PUN/2020

AI Insights

The case involves Meera Beg, who appealed against the order of the Commissioner of Income Tax (Appeals)-7, Pune, which confirmed the addition made by the Assessing Officer regarding her income for the assessment year 2011-12. The primary issue was the disallowance of a deduction under section 54F of the Income Tax Act, 1961, related to the investment of sale proceeds from a high-value property transaction. The Assessing Officer had initially issued a notice under section 148 of the Act following information from the Investigation Wing about unverified high-value transactions. The Tribunal dismissed the appeal due to the absence of the appellant's representative and the procedural impropriety of admitting additional grounds at this stage.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 137163 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 3 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-03-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 01-03-2023
• Assessment Year: 2011-2012
• Appeal Filed On: 26-11-2020
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Cost of acquisition
• Section: 148; 143(3); 54F

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.622/PUN/2020 िनधाᭅरण वषᭅ / Assessment Year : 2011-12 Meera BEG L/H of Rahat Rasheed BEG, 453, Clover Citadel, Salunke Vihar Road, Wanwadi, Pune- 411040. PAN : AEGPB0666E Vs. CIT, Pune. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of ld. Commissioner of Income Tax (Appeals)- 7, Pune [‘the CIT(A)’] dated 24.09.2020 for the assessment year 2011-12. 2. Briefly, the facts of the case are that the appellant is an individual deriving income under the head “Income from other sources” and “Capital gains”. The Return of Income for the assessment year 2011-12 was filed on 15.11.2011 declaring total income of Rs.1,45,13,795/-. Against the said return of income, Assessee by : None Revenue by : Shri Ramnath P. Murkunde Date of hearing : 02.03.2023 Date of pronouncement : 03.03.2023 ITA No.622/PUN/2020 2 there was no scrutiny assessment. Subsequently, on receipt of the information from the Investigation Wing of the Department, the Assessing Officer had issued a notice u/s 148 of the Income Tax Act, 1961 (‘the Act’) on 27.03.2018 for the reason that the appellant had high value financial transactions relating to the sale of immovable property for Mahabaleshwar of Rs.12 crores whereas he had offered the income under the head “capital gains” of Rs.98,91,855/-. The indexed cost of acquisition and improvement remain unverified. The assessment was completed by the Dy. Commissioner of Income Tax, Circle-14, Pune (‘the Assessing Officer’) vide order dated 14.12.2018 passed u/s 143(3) r.w.s. 147 of the Act at a total income of Rs.5,87,04,120/-. While doing so, the Assessing Officer disallowed the claim for deduction of Rs.4,06,49,232/- u/s 54F of the Act on the ground that the appellant had not invested the sale proceeds of the original property sold before due date for filing of the return of income in the new house/residential property. Even an appeal before the ld. CIT(A), the addition was confirmed by the ld. CIT(A). 3. Being aggrieved, the appellant is in appeal before us in the present appeal. ITA No.622/PUN/2020 3 4. When the appeal was called on, none appeared on behalf of the appellant-assessee despite due service of notice of hearing. 5. We heard the ld. Sr. DR and perused the material on record. From the grounds of appeal filed by the assessee, it would evident that the assessee challenges the validity of the reassessment proceedings, which is not subject matter of appeal before the ld. CIT(A). Thus, these grounds of appeal are additional grounds of appeal filed for the first time before this Tribunal, no application for admission of these additional grounds of appeal was filed by the appellant, we are of the considered opinion that the issue of validity of reassessment proceedings is mixed question of law and fact requiring the examination of the facts as well as the application of law. Accordingly, we are of the view that an issue which requires investigation into facts, cannot be admitted by the Tribunal. Thus, the grounds of appeal filed by the assessee stand dismissed. 6. In the result, the appeal filed by the assessee stands dismissed. Order pronounced on this 03 rd day of March, 2023. Sd/- Sd/- (S. S. VISWANETHRA RAVI) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 03 rd March, 2023. Sujeet ITA No.622/PUN/2020 4 आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A)-7, Pune. 4. The Pr. CIT-4, Pune. 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “A” बᱶच, पुणे / DR, ITAT, “A” Bench, Pune. 6. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.