Smt. Archana Chowdhury, West Bengal V. DCIT,Circle-1, Ranchi

ITA 73/RAN/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 8589 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-07-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 15-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K MOHANTI CITSRDR
• Keywords: Sale consideration of property below Jantri Value; Fair market value
• Section: 56(2)(vii)(b); 143(3); 201; 73

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH E COURT AT KOLKATA BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 73 / RAN / 201 9 ASSESSMENT YEAR :2014-15 SMT. ARCHANA CHOWDHURY FLAT NO. 8, 7/1 LAL BABU SHAIR ROAD, BELRUMATH, HOWRAH, WEST BENGAL-711 202 [ PAN NO.AFCPC 8709 F ] V/S . DCIT, CIRCLE-1 4 TH FLOOR, CENTRAL REVENUE BUILDING, 5, MAIN ROAD, RANCHI PIN-834 001 /APPELLANT .. / RESPONDENT /BY APPELLANT NONE /BY RESPONDENT SHRI A.K. MOHANTI, ADDL. CIT-SR-DR /DATE OF HEARING 15-07-2020 /DATE OF PRONOUNCEMENT 15 -07-2020 / O R D E R PER BENCH (ORAL):- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-RANCHIS O RDER DATED 18.12.2018 PASSED IN CASE NO. CIT(A), RANCHI/10024/2017-18, IN VOLVING PROCEEDINGS U/S 143(3) THE INCOME TAX ACT, 1961; IN SHORT THE ACT . CASE CALLED TWICE. NONE APPEARS AT THE ASSESSEES B EHEST. IT IS ACCORDINGLY PROCEEDED EX PARTE . THE CASE IS NOW TAKEN UP FOR ADJUDICATION ON MERITS. 2. WITH THE ABLE ASSISTANCE OF LEARNED SENIOR DEPAR TMENTAL REPRESENTATIVE, WE NOTICE AT THE OUTSET THAT THE CIT(A)S LOWER APP ELLATE ORDER UNDER CHALLENGE HAS DECLINED TO CONDONE THE DELAY OF EIGHTY DAYS D ELAY IN FILING STATED TO BE ITA NO.73/RAN/2019 A.Y. 2014-15 SMT. ARCHANA CHOWDHURY VS. DCIT CIR-1, RAN CHI PAGE 2 ATTRIBUTABLE SERIOUS ILLNESS AND OTHER MEDICAL REAS ONS. HON'BLE APEX COURTS LANDMARK JUDGMENT COLLECTOR, LAND ACQUISITION VS. MST. KATIJI (1987) 167 ITR 471 (SC) HELD LONG BACK THAT ALL OF TECHNICAL ASPECTS MUST MAKE WAY FOR THE CAUSE OF SUBSTANTIAL JUSTICE. WE T HEREFORE ARE OF THE VIEW THAT THE ASSESSEES DELAY OF EIGHTY DAYS IN FILING THE LOWER APPEAL WAS NEITHER INTENTIONAL NOR DELIBERATE BUT ON ACCOUNT OF THE FO REGOING MEDICAL ILLNESS ONLY. THE SAME IS CONDONED. 3. WE NOW ADVERT TO MERITS. THE ASSESSEES SOLE SUB STANTIVE GRIEVANCE SEEKS TO REVERSE BOTH THE LOWER AUTHORITIES ACTION MAKING U/S 56(2)(VII)(B) ADDITION OF 43,99,000/- BASED ON DIFFERENCE BETWEEN THE ACTUAL SALE CONSIDERATION OF STAMP VALUATION. LEARNED DEPARTMEN TAL REPRESENTATIVE FAILS TO DISPUTE THAT NEITHER OF THE LOWER AUTHORITIES HAD M ADE SEC. 50C(2) REFERENCE TO THE DVO FOR ASCERTAINING FAIR MARKET VALUE OF THE C ORRESPONDING ASSET AS IT IS APPLICABLE MUTATIS MUTANDIS IN SEC.56(2)(VII)(B)(C) PROVISO TO THIS EFFECT. HON'BLE CALCUTTA HIGH COURTS DECISION IN SUNIL KUMAR AGARWAL VS. COMMISSIONER OF INCOME TAX (2014) 372 ITR 83 (CAL) HOLDS THAT SUCH A REFERENCE IS VERY MUCH MANDATORY EVEN IF THE TAXPAY ERS CONCERNED DOES NOT RAISE AN OBJECTION BEFORE THE ASSESSING OFFICER. WE ADOPT THE VERY REASONING HEREIN AS WELL AND RESTORE THE INSTANT ISSUE ASSESS ING OFFICER FOR AFRESH ADJUDICATION AS PER LAW. 4. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT AT THE CLOSE OF HEAR ING ON WEDNESDAY, 15 TH JULY, 2020 SD/- SD/- ( ') ($% ') (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) *DKP SR.P.S. &- 15 / 07/ 20 20 ITA NO.73/RAN/2019 A.Y. 2014-15 SMT. ARCHANA CHOWDHURY VS. DCIT CIR-1, RAN CHI PAGE 3 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SMT. ARCHANA CHOWDHURY, FLAT NO. 8, 7/1 LAL BABU SHAIR ROAD, BELURMATH, HOWR AH, WEST BENGAL-711 202 2. /RESPONDENT-DCIT, CIR-1, 4 TH FLOOR, CENTRAL REVENUE BUILDING, 5 MAIN ROAD, RANCHI, PIN-83 4001 3. 0 3 / CONCERNED CIT RANCHI 4. 3- / CIT (A) RANCHI 5. 6 %%0, 0, / DR, ITAT, RANCHI 6. < / GUARD FILE. BY ORDER/ , /TRUE COPY/ 0,