ITO, Jaipur V. SHRI GOVERDHAN SINGH SHEKHAWAT, Jaipur

ITA 636/JPR/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4216 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 9 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-05-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 01-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR ASHWINI HOSMANI
• Assessee Lawyers: NIKHILESH KATARIA CA DHK
• Keywords: Sale consideration of property below Jantri Value
• Section: 271(1)(c); 50C; 54F

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES B, JAIPUR JH JES'K LH 'KEKZ] YS[KK LNL; ,OA JH FOT; IKY JKO] U;KF;D LNL; DS LE{K BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM VK;DJ VIHY LA - @ ITA NO. 636/JP/2017 FU/KZKJ.K O'KZ @ ASSESSMENT YEAR : 2009-10 I.T.O., WARD 6(1), JAIPUR. CUKE VS. GOVARDHAN SINGH SHEKHAWAT, PLOT NO. 19, JAI SHREE NAGAR, OPP.- SECTOR-8, MALVIYA NAGAR, JAIPUR. LFKK;H YS[KK LA -@THVKBZVKJ LA -@ PAN/GIR NO.: ASBPS 2383 M VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS @ REVENUE BY : DR. ASHWINI HOSMANI (ADDL.CIT) FU/KZKFJRH DH VKSJ L S@ ASSESSEE BY : SHRI NIKHILESH KATARIA (CA) LQUOKBZ DH RKJH[K @ DATE OF HEARING: 08/05/2019 MN?KKS'K.KK DH RKJH[K @ DATE OF PRONOUNCEMENT : 10/05/2019 VKNS'K @ ORDER PER: R.C. SHARMA, A.M. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 15/05/2017 OF LD. CIT(A), AJMER FOR THE A.Y. 2009-10 IN THE MATTER OF IMPOSITION OF PENALTY U/S 271(1)(C) OF THE INCOME TAX ACT, 1961 (IN SHORT, THE ACT). 2. RIVAL CONTENTIONS HAVE BEEN HEARD AND RECORD PERUSED. IN THIS CASE, PENALTY HAS BEEN LEVIED WITH RESPECT TO ADDITION MADE BY THE A.O. U/S 50C OF THE ACT BY DECLINING CLAIM OF DEDUCTION U/S 54F OF THE ACT. PART OF WHICH WAS CONFIRMED BY THE LD. CIT(A), AGAINST WHICH, THE 2 ITA NO. 636/JP/2017 ITO VS GOVARDHAN SINGH SHEKHAWAT ASSESSEE APPROACHED TO THE TRIBUNAL AND THE TRIBUNAL VIDE ITS ORDER DATED 11/01/2019 DELETED THE IMPUGNED ADDITION OF RS. 3,42,31,397/-. ACCORDINGLY, IT WAS CONTENDED BY THE LD AR OF THE ASSESSEE THAT NO PENALTY WAS IMPOSABLE SINCE THE ADDITION ITSELF HAS BEEN DELETED. 3. WE HAVE CONSIDERED THE RIVAL CONTENTIONS AND CAREFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW AND FOUND FROM THE RECORD THAT THE PENALTY SO LEVIED WITH RESPECT TO THE ADDITION MADE U/S 50C BY DECLINING CLAIM OF DEDUCTION U/S 54F OF THE ACT HAS BEEN DELETED BY THE TRIBUNAL VIDE ITS ORDER DATED 11/01/2019. THE PRECISE OBSERVATION OF THE TRIBUNAL READS AS UNDER: 45. IN LIGHT OF ABOVE DISCUSSIONS AND IN THE. ENTIRETY OF FACTS AND CIRCUMSTANCES OF THE CASE, THE ASSESSEE IS HELD ELIGIBLE FOR EXEMPTION UNDER SECTION 54F FOR THE IMPUGNED ASSESSMENT YEAR AND THE ASSESSING OFFICER IS DIRECTED TO ALLOW THE SAME. 46. IN THE RESULT, GROUND NO. 2 OF THE ASSESSEE'S APPEAL IS ALLOWED. THE GROUND NO. 1 IS GENERAL IN NATURE AND GROUND NO. 3 IS CONSEQUENTIAL IN NATURE AND THUS, DOESN'T REQUIRE ANY SEPARATE ADJUDICATION. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED. 4. AS THE ADDITION ITSELF HAS BEEN DELETED BY THE TRIBUNAL BY GIVING A FINDING THAT THE ASSESSEE IS ELIGIBLE FOR EXEMPTION U/S 54F OF THE ACT, THE ADDITION SO MADE BY THE A.O. HAS NO LEGS TO STAND. ACCORDINGLY, THE PENALTY IMPOSED WITH RESPECT TO THIS ADDITION HAS ALSO NO LEGS TO STAND. 3 ITA NO. 636/JP/2017 ITO VS GOVARDHAN SINGH SHEKHAWAT 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 10 TH MAY, 2019. SD/- SD/- FOT; IKY JKO JES'K LH 'KEKZ (VIJAY PAL RAO) (RAMESH C SHARMA) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 10 TH MAY, 2019 *RANJAN VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- THE I.T.O., WARD 6(1), JAIPUR. 2. IZR;FKHZ@ THE RESPONDENT- SHRI GOVARDHAN SINGH SHEKHAWAT, JAIPUR. 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K]T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO. 248/JP/2019) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR