The Deputy Commissioner of Income tax, Jammu V. Smt. Bani Trehan, Jammu

ITA 703/ASR/2013

• Counselvise Citation: 70320914 RSA 2013
• Duration Of Justice: 4 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-04-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 22-04-2014
• Assessment Year: 2007-2008
• Appeal Filed On: 04-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Document seized; Documents seized

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. B.P. JAIN, ACCOUNTANT MEMBER I.T.A. NO. 703(ASR)/2013 ASSESSMENT YEAR: 2007-08 PAN: AAIPT2526L DEPUTY COMMISSIONER OF INCOME VS. SMT. BANI TREHA N, 31-D/C, TAX, CENTRAL CIRCLE, JAMMU GANDHI NAGAR, JAMMU (APPELLANT) (RESPONDENT) APPELLANT BY: SH. TARSEM LAL, DR RESPONDENT BY: NONE DATE OF HEARING: 22.04.2014 DATE OF PRONOUNCEMENT: 29.04.2014 ORDER PER BENCH 1. THIS APPEAL OF THE REVENUE ARISES FROM THE ORDER OF LEARNED CIT(A)-I, LUDHIANA, DATED 20.09.2013 PASSED FOR THE ASSESSMEN T YEAR 2007-08. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL: I. THAT THE LEARNED CIT(A) HAS ERRED BOTH IN LAW AND O N FACTS WHILE RESTRICTING THE ADDITION OF RS. 23,55,002/- TO RS. 5,55,823/- MADE ON ACCOUNT OF CAPITAL GAIN RECOMPUTED ON THE BASIS OF SEIZED DOCUMENTS. II. THAT THE LEARNED CIT(A) HAS ERRED BOTH IN LAW AND O N FACTS IN NOT APPRECIATING THE FACTS MENTIONED IN THE ASSESSMENT ORDER THAT THE IMPUGNED ADDITION WAS MADE BY RECALCULATING THE CAP ITAL GAIN ON THE BASIS OF SEIZED DOCUMENTS. III. THE APPELLANT CRAVES LEAVE TO ADD OR AMEND THE GROU NDS OF APPEAL ON OR BEFORE THE APPEAL IS HEARD AND DISPOSED OFF. 2 I.T.A. NO. 703(ASR)/2013 ASSESSMENT YEAR: 2007-08 IV. IT IS PRAYED THAT THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS) BE SET ASIDE AND THAT OF THE A.O. BE RESTORED. 2. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSI NG OFFICER HAD MADE THE ADDITION OF RS. 23,55,002/- BY TREATING THE SALE CO NSIDERATION PERTAINING TO THE ASSESSEES SHARE AT RS. 53,72,660/- AS AGAINST RS. 30,17,658/- SHOWN BY HER. THE ASSESSEE ALONGWITH OTHER CO-OWNERS HAD SOLD THEIR I MMOVABLE PROPERTY AT JAMMU FOR A CONSIDERATION OF RS. 3,72,72,000/- AS R ECORDED IN THE REGISTRATION DEED WHEREAS THE ASSESSING OFFICER IN THE CASE OF T HE BUYER HAD CONCLUDED THAT AN AMOUNT OF RS. 5,45,32,162/- HAD BEEN PAID AS PUR CHASE CONSIDERATION. THE ADDITION MADE BY THE ASSESSING OFFICER IN THE CASE OF THE BUYER SH. NAGAR SINGH FOR THE ASSESSMENT YEAR 2007-08 HAD BEEN REST RICTED TO AN AMOUNT OF RS. 60,00,000/- VIDE APPELLATE ORDER PASSED BY LEARNED CIT(A)-I, LUDHIANA, IN THE CASE OF SH. NAGAR SINGH DATED 14.03.2012. 3. LEARNED LEARNED CIT(A)-I, LUDHIANA, RESTRICTED T HE ADDITION TO RS. 5,55,823/- IN VIEW OF THE DECISION IN THE CASE OF S H. NAGAR SINGH AS MENTIONED IN THE IMPUGNED ORDER. 4. NONE APPEARED ON BEHALF OF THE ASSESSEE IN SPITE OF THE VALID SERVICE OF NOTICE; THEREFORE WE PROCEED TO DECIDE THE CASE EX-PARTE AFTER CONSIDERING THE MATERIALS ON RECORD AND AFTER HEARING LEARNED DR. 3 I.T.A. NO. 703(ASR)/2013 ASSESSMENT YEAR: 2007-08 5. WE HAVE HEARD LEARNED DR AND PERUSED THE MATERIA LS AVAILABLE ON RECORD. WE CONCUR WITH THE VIEWS OF LEARNED CIT(A)- I, LUDHIANA, RESTRICTING THE ADDITION OF RS. 5,55,823/- FOR THE REASONS MENTIONE D BY HIM AND DELETING THE REST OF THE ADDITIONS. WE FIND NO INFIRMITY IN THE IMPUGNED ORDER OF LEARNED CIT(A)-I, LUDHIANA. ACCORDINGLY, ALL THE GROUNDS OF THE REVENUE ARE DISMISSED. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH APRIL, 2014 SD/./- SD/./- (H.S. SIDHU) (B.P. JAIN) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 29 TH APRIL, 2014 /RK/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE: SMT. BANI TREHAN, 31-D/C, GANDHI NA GAR, JAMMU 2. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, JAMMU 3. THE CIT(A), 4. THE CIT, 5. THE SR DR, I.T.A.T., TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR.