B. Shakeela Reddy, Hyderabad, Hyderabad V. ACIT, Circle-6(1), Hyderabad, Hyderabad

ITA 853/HYD/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 2597 (ITAT-HYDERABAD)
• Duration Of Justice: 4 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 17-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRAVEENA
• Keywords: Sale consideration of property below Jantri Value
• Section: 50C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A-SMC, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT ITA NO. 853/HYD/2017 ASSESSMENT YEAR: 2006-07 SMT. B. SHAKEELA REDDY, HYDERABAD. PAN AEXPB4565J VS. ACIT, CIRCLE-6(1), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : SMT. PRAVEENA DATE OF HEARING : 27-09-2017 DATE OF PRONOUNCEMENT : 27-09-2017 ORDER PER D. MANMOHAN, VICE PRESIDENT: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST ORDER PASSED BY CIT(A)-12 HYDERABAD AND IT PERTAINS TO A.Y 2006-07. FOLLOWING GROUNDS WERE URGED BEFORE THE TRIBUNAL. 1. THE CIT(A) HAS ERRED BOTH IN FACTS AND LAW. 2. THE CIT(A) HAS ERRED IN DISALLOWING RS. 18 LAKHS AS A EXPENDITURE FOR THE DEVELOPMENT OF PLOT. 3. THE CIT(A) HAS ERRED IN ADOPTING THE MARKET VALUE INVOKING THE PROVISIONS OF SEC. 50C WHILE THE APPELLANT HAS DONE A DISTRESS SALE. 4. FOR THIS AND ANY OTHER GROUND THAT MAY BE URGED AT THE TIME OF APPEAL. 2. THOUGH THE NOTICE WAS SENT TO THE ASSESSEE AT THE ADDRESS GIVEN IN FORM NO. 36, THE SAME WAS RETURNED UNSERVED WITH A POSTAL REMARK UNCLAIMED / HENCE RETUNED TO SENDER. THIS ONLY SHOWS THAT THE ASSESSEE IS NOT 2 ITA NO. 853/HYD/2017 SMT. B. SHAKEELA REDDY, HYD . INTERESTED IN PURSUING THE APPEAL. SINCE NO MATERIAL WAS FILED TO CONTRADICT THE FINDINGS OF THE LD. CIT(A), THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 27 TH SEPTEMBER, 2017. SD/- (D. MANMOHAN) VICE PRESIDENT HYDERABAD, DATED: 27-09-2017. KRK 1 SMT. B SHAKEELA REDDY, 54, ADITYA VILLAS, MANIKONDA, HYDERABAD. 2 ACIT, CIRCLE-6(1), HYDERABAD. 3 CIT(A)-12, HYDERABAD. 4 THE PR. CIT-VI, HYDERABAD. 5 THE DR, ITAT HYDERABAD 6 GUARD FILE