The ACIT, Central Circle-3, Surat V. Shri Jagdish R.Kashwala, Surat

ITA 751/AHD/2010

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 80334 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-09-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 25-08-2014
• Assessment Year: 2007-2008
• Appeal Filed On: 11-03-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B KULSHRESTHA
• Assessee Lawyers: M K PATEL

Judgement Text

, , , , A, IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD, A BENCH . .. . . .. . , !' !' !' !', , , , #$ %&'( #$ %&'( #$ %&'( #$ %&'(, , , , )* + ) ' )* + ) ' )* + ) ' )* + ) ' BEFORE S/SHRI G.C. GUPTA, VICE-PRESIDENT AND ANIL CHATURVEDI, ACCOUNTANT MEMBER) ITA NO.751/AHD/2010 [ASSTT.YEAR : 2007-2008] ACIT, CENT.CIR.3 SURAT. /VS. SHRI JAGDISH R. KASHWALA B-304, SHREENATHDWAR APARTMENT ASHWINKUMAR ROAD SURAT. PAN : AFQPK 1110 E ( (( (-. -. -. -. / APPELLANT) ( (( (/0 /0 /0 /0-. -.-. -. / RESPONDENT) + 1 2 )/ REVENUE BY : SHRI B. KULSHRESTHA, SR.DR 4& 1 2 )/ ASSESSEE BY : SHRI M.K. PATEL 5 1 &(*/ DATE OF HEARING : 25 TH AUGUST, 2014 678 1 &(*/ DATE OF PRONOUNCEMENT : 05/09/2014 )9 / O R D E R PER G.C. GUPTA, VICE-PRESIDENT: THIS APPEAL BY THE REVENUE FOR THE ASSTT.YEAR 2007-2008 IS DIRECTED AGAINST TH E ORDER OF THE CIT(A). 2. THE ONLY EFFECTIVE GROUND OF THE APPEAL OF THE R EVENUE IS GROUND NO.1, WHICH IS REPRODUCED BELOW: 1. THE LD.CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.8,40,000/- MADE ON ACCOUNT OF UNACCO UNTED INVESTMENT IN IMMOVABLE PROPERTIES HOLDING THAT THE RE IS NO EVIDENCE FOUND THAT THE WHOLE PROPERTY IS PURCHASED BY THE A SSESSEE. ITA NO.751/AHD/2010 -2- 3. THE LEARNED DR REFERRED TO RELEVANT PORTIONS OF THE ASSESSMENT ORDER IN SUPPORT OF THE CASE OF THE REVENUE. HE RELIED O N THE ORDERS OF THE AO. 4. THE LEARNED COUNSEL FOR THE ASSESSEE HAS OPPOSED THE SUBMISSIONS OF THE LEARNED DR. HE SUBMITTED THAT THE ASSESSEE HAS PRODUCED THE REGISTRATION DEED WHEREIN IT IS CLEARLY MENTIONED T HAT THE ASSESSEE WAS OWNER OF ONLY 30% OF THE PROPERTY, AND THEREFORE, T O MAKE THE ADDITION OF WHOLE OF THE PURCHASE PRICE OF THE PROPERTY IN THE HANDS OF THE ASSESSEE IS CONTRARY TO THE LAW. HE SUBMITTED THAT THE ASSESSE E HAS CLEARLY STATED DURING THE ASSESSMENT PROCEEDINGS THAT HE WAS ONLY ONE OF THE FOUR INVESTORS WITH 30% SHARE IN THE PROPERTY, AND THIS CLAIM OF THE ASSESSEE WAS EVIDENCED BY THE PURCHASE DEED. HE SUBMITTED I N SIMILAR FACTS, THE ITAT, AHMEDABAD BENCH IN ASSESSEES OWN CASE FOR TH E EARLIER ASSTT.YEARS 2003-2004, 2004-2005 AND 2006-2007 HAS DECIDED THE SIMILAR ISSUE IN FAVOUR OF THE ASSESSEE IN ITA NO.45/AHD/20 10 AND OTHERS DATED 7.3.2014. 5. WE HAVE CONSIDERED RIVAL SUBMISSIONS AND PERUSED THE ORDERS OF THE AO AND THE CIT(A) AND ALSO THE ORDER OF THE ITAT, A HMEDABAD BENCH IN ASSESSEES OWN CASE FOR EARLIER ASSESSMENT YEARS DA TED 7.3.2014 (SUPRA). WE FIND THAT THE ASSESSEE HAS FILED EVIDENCE IN THE FORM OF COPY OF PURCHASE DEED OF THE PROPERTY, WHEREIN THE SHARE OF THE ASSESSEE WAS CLEARLY MENTIONED AS 30%. THE ASSESSEE HAS STATED DURING THE ASSESSMENT PROCEEDINGS THAT HE WAS ONLY ONE OF THE FOUR INVEST ORS OF THE PROPERTY, AND THIS CLAIM WAS EVIDENCED BY THE PURCHASE DEED. WE FIND THAT NO EVIDENCE WHATSOEVER HAS BEEN PLACED BY THE REVENUE TO SHOW T HAT THE ASSESSEE HAS INVESTED IN THE PURCHASE OF THE SAID PROPERTY IN TH E NAME OF OTHER CO- OWNERS. THE CIT(A) HAS RECORDED A FINDING THAT THE RE WAS NO EVIDENCE ITA NO.751/AHD/2010 -3- THAT THE APPELLANT HAS MADE ENTIRE INVESTMENT IN TH E PROPERTY. IN THESE FACTS OF THE CASE, WE ARE OF THE VIEW THAT THERE IS NO MISTAKE IN THE ORDER OF THE CIT(A) ON THIS ISSUE, AND THEREFORE, THE SAME I S CONFIRMED AND THE GROUND NO.1 OF THE REVENUE IS DISMISSED. 6. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE. SD/- SD/- ( %&'( %&'( %&'( %&'( / ANIL CHATURVEDI) )* + )* + )* + )* + /ACCOUNTANT MEMBER ( . .. . . .. . /G.C. GUPTA) !' !' !' !' /VICE-PRESIDENT C OPY OF THE ORDER FORWARDED TO: 1) : APPELLANT 2) : RESPONDENT 3) : CIT(A) 4) : CIT CONCERNED 5) : DR, ITAT. BY ORDER DR/AR, ITAT, AHMEDABAD