Bhopanlal Bholaram Satikar, Jalna V. Assistant Commissioner of Income Tax, Cirlce-Jalna, Jalna

ITA 682/PUN/2019

• Counselvise Citation: [2022] 107 COUNSELVISE.COM (IT) 1106 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 4 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-08-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 29-04-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Capital asset

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. / ITA No.682/PUN/2019 नधा रण वष / Assessment Year : 2010-11 Bhopanlal Bholaram Satikar, House No.10, Old Mondha Road, Jalna – 431203 PAN : EOIPS6879M Vs. ACIT, Jalna Circle, Jalna (Appellant) Respondent) आदेश / ORDER PER R.S.SYAL, VP : This appeal by the assessee is directed against the order passed by the CIT(A)-1, Aurangabad on 09-01-2019 in relation to the assessment year 2010-11. 2. The only issue raised in this appeal is against the confirmation/enhancement of addition amounting to Rs.37,32,300/-. 3. The factual matrix of the case is that the assessee did not file his return for the year under consideration. The Assessing Officer (AO) got information that the assessee had sold some property situated at Survey No.139 admeasuring 7 hectares 74R for a consideration of Rs.1,18,64,600/- on 25-09-2010. The land Appellant by None Respondent by Shri Arvind Desai Date of hearing 01-09-2022 Date of pronouncement 01-09-2022 ITA No. 682/PUN/2019 Bhopanlal Bholaram Satikar 2 was within the municipal limits and hence, a capital asset. Since the assessee had not shown any income therefrom, a notice u/s.148 was issued. A return was filed pursuant to this notice on 03-01-2013. The AO observed that the assessee had not disclosed the transaction under consideration which was subject matter of notice u/s.148. He computed the capital gain by taking the assessee’s share at 19.38% and determined the full value of consideration pertaining to assessee’s share at Rs.23.00 lakh. After allowing the deduction for indexed cost of acquisition, he determined the amount of long term capital gain at Rs.21,54,716/-. The ld. CIT(A) made enhancement by observing that the assessee has one-half share in the property along with his brother and not 19.38% as taken by the AO. He, therefore, made enhancement by computing the amount of capital gain by taking the assessee’s share in the full value of consideration at one-half, which led to the enhancement and increase in the overall addition to Rs.37,32,300/-. 4. I have heard the ld. DR and gone through the relevant material on record. The appeal was fixed for hearing for the first time on 19-06-2019 when it was adjourned at the request of the assessee. The appeal came to be adjourned on several occasions ITA No. 682/PUN/2019 Bhopanlal Bholaram Satikar 3 by the Tribunal and mostly the assessee evaded the attendance. Considering the pendency of appeal for such a long period after its fixation, I am inclined to dispose of the appeal ex parte qua the assessee. 5. It is seen that the assessee did not declare any income as long term capital gain on the property which was admittedly transferred during the year. The AO considered the assessee’s share at 19.38%. However, the ld CIT(A), after taking into consideration the entire gamut of material, came to hold that the assessee was having one-half share in the property. No material has been placed on record to controvert the finding of the ld. CIT(A). As the assessee had not declared the income from transfer of such property, the inescapable conclusion is that the addition as enhanced by the ld. CIT(A) is correct and does not warrant any interference. 6. In the result, the appeal is dismissed. Order pronounced in the Open Court on 01 st September, 2022. Sd/-/- (R.S.SYAL) उपा य / VICE PRESIDENT प ु णे Pune; दनांक Dated : 01 st September, 2022 Satish ITA No. 682/PUN/2019 Bhopanlal Bholaram Satikar 4 आदेश क त ल प अ े षत / Copy of the Order is forwarded to : 1. अपीलाथ / The Appellant; 2. यथ / The Respondent; 3. The CIT(A)-1, Aurangabad 4. 5. The Pr.CIT-1, Aurangabad वभागीय त न ध, आयकर अपील!य अ धकरण, प ु णे “SMC” / DR ‘SMC’, ITAT, Pune; 6. गाड फाईल / Guard file. आदेशान ु सार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune Date 1. Draft dictated on 01-09-2022 Sr.PS 2. Draft placed before author 01-09-2022 Sr.PS 3. Draft proposed & placed before the second member -- JM 4. Draft discussed/approved by Second Member. -- JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *