Priyanka Prashant Kate, Pune V. Income Tax Officer Ward 8(2), Pune

ITA 827/PUN/2024

• Counselvise Citation: [2024] 101 COUNSELVISE.COM (IT) 6537 (ITAT-PUNE)
• Duration Of Justice: 1 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 18-04-2024
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Capital Gains
• Section: 147; 139(1)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.827/PUN/2024 नधा रण वष / Assessment Year : 2011-12 Priyanka Prashant Kate, Shamrao Kate Chowl, Keshav Nagar, Pimple Saudagar, Pune 411 027, Maharashtra PAN : BZDPK8789H Vs. ITO, Ward-8(2), Pune Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of Addl/JCIT(A)-1, Coimbatore dated 21.02.2024 for the assessment year 2011-12. 2. Brief facts of the case are that the appellant is an individual, no regular return of income under the provisions of section 139(1) for the A.Y. 2011-12 was filed by the appellant. The Assessing Officer (AO), based on the AIR information that during the F.Y. 2010-11 relevant to the A.Y. 2011-12, the appellant along with 37 others had sold the immovable property for a total consideration of Rs.2,79,00,000/- vide sale deed dated 31.10.2010, of which the appellant’s share was Rs.9,15,000/-. Since the appellant had not filed the return of income, the AO formed opinion that income escaped assessment to tax, Assessee by : None Revenue by : Shri Abdesh Kumar Jha Date of hearing : 12.06.2024 Date of pronouncement : 12.06.2024 ITA No.827/PUN/2024 2 accordingly notice u/s.148 was issued on 27.03.2018. The appellant neither complied with notice u/s.148 nor to the notices issued u/s.142(1) of the Act. In the circumstances, the AO was constrained to complete the assessment ex parte u/s.144 r.w.s 147 by assessing the total consideration of the appellant’s share of Rs.9,15,000/- as his income. 3. Being aggrieved, an appeal was filed before the CIT(A) contending that the appellant is a mere consenting party to the transaction and not a real owner of the property. Therefore, the question of assessing the sale consideration in his hands does not arise. In the absence of any evidence adduced by the appellant in support of the contentions, based on the recitals contained in the sale deed the ld. CIT(A) confirmed the action of the AO. However, the ld. CIT(A) directed the AO to grant the benefit of indexation while computing the capital gains. 4. When the appeal was called on, none appeared on behalf of the appellant despite due service of notice of hearing. After hearing the ld. DR and perusing the material on record, I proceed to dispose of the appeal ex parte qua the appellant. 5. I heard the ld. Sr. DR and perused the relevant material on record. The issue in the present appeal relates to the assessability of the sale consideration received by the appellant under the head ‘capital gains’. The contention of the appellant that he is not a real owner of the property but mere consent party is mere ipse dixit. No evidence was adduced in support of the contentions raised by the appellant. Therefore, the findings of the AO are based on the recitals contained in the sale deed. In the absence of any evidence to the contrary, the covenants in the sale deed are conclusive. The ld. CIT(A) has rightly directed the AO to give the benefit of indexation. Thus, I do not find ITA No.827/PUN/2024 3 any reason to interfere with the order of the CIT(A). The appeal filed by the assessee stands dismissed. 6. In the result, the appeal filed by the assessee is dismissed. Order pronounced on this 12 th day of June, 2024. Sd/- (S. S. VISWANETHRA RAVI) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; दनांक / Dated : 12 th June, 2024. Satish आदेश क ितिलिप अ ेिषत / Copy of the Order forwarded to : 1. अपीलाथ / The Appellant. 2. यथ / The Respondent. 3. The Pr. CIT concerned. 4. िवभागीय ितिनिध, आयकर अपीलीय अिधकरण, “SMC” ब च, पुणे / DR, ITAT, “SMC” Bench, Pune. 5. गाड फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.