Tara Devi, Ranchi V. ACIT,Circle-3, Ranchi

ITA 89/RAN/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9042 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 5 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 27-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K MOHANTI
• Section: 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI, ECO URT,AT KOLKATA BEFORE SHRI S.S. GODARA, JM &DR. A.L.SAINI, AM ./ITA NO.89/RAN/2019 ( / ASSESSMENT YEAR:2014-15) TARA DEVI C/O, D.P. PAUL (FCA), 718/A, NABIN MITRA ROAD, NEAR SUMSUNG PLAZA, BURDWAN COMPOUND, LALPUR, RANCHI VS. ACIT, CIRCLE-3, RANCHI ./ ./PAN/GIR NO.: BNSPD 3225 J (APPELLANT) .. (RESPONDENT) APPELLANT BY : NONE RESPONDENT BY :SHRI A. K. MOHANTI, ADDL. CIT SR. DR / DATE OF HEARING : 13/07/2020 /DATE OF PRONOUNCEMENT : 31/07/2020 / O R D E R PER BENCH (ORAL): THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 IS DIRECTED AGAINST THE CIT(A)-RANCHIS ORDER DATED 27/11/2018 PASSED IN CA SE NO. CIT(A), RANCHI/10061/2017-18 INVOLVING PENALTY PROCEEDINGS U/S 271(1)(C ) OF THE INCOME TAX ACT, 1961 ( IN SHORT THE ACT). CASE CALLED TWICE. NONE APPEARED AT THE ASSESSEES BEHEST. SHE IS ACCORDINGLY PROCEEDED AS EX PARTE. 2. WITH THE ABLE ASSISTANCE OF LD. SR. DR, WE NOTIC E FROM A PERUSAL OF AOS PENALTY ORDER DATED 29.06.2017 THAT HE HAS LEVIED THE IMPUG NED PENALTY OF RS. 2,95,610/- IN THE GROUND THAT THE ASSESSEE HAD DECLARED ACTUAL SALE CONSIDERATION OF RS. 1,40,000/- AS AGAINST THAT STAMP VALUE FOR PURPOSE OF REGISTRATION TO THE TUNE OF RS. I.T.A NO.89/RAN/2019 TARA DEVI A.Y. 2014-15 PAGE | PAGE | PAGE | PAGE | 2 22 2 15.75 LAKH. THERE IS NO INDICATION IN EITHER OF T HE LOWER AUTHORITIES ORDER THAT THE SAID SALE DEED INVOLVED ON MONEY OR CASH AS TRANSAC TION SINCE IT IS A CASE OF STAMP VALUE ADOPTED FOR THE PURPOSE OF REGISTRATION ONLY. WE HOLD IN VIEW OF THIS CLINCHING ASPECT IT IS NEITHER A CASE OF CONCEALME NT NOR THAT OF FURNISHING INADEQUATE PARTICULARS OF INCOME U/S 271(1)(C ) OF THE ACT. THIS PENALTY IS DIRECTED TO BE DELETED THEREFORE. 3. IN THE RESULT, THE ASSESSEES APPEAL IS ALLOWE D. ORDER PRONOUNCED IN THE COURT ON 31.07.2020 SD/- (A.L.SAINI) SD/- (S.S.GODARA) / ACCOUNTANT MEMBER / JUDICIAL MEMBER /KOLKATA; / DATE: 31/07/2020 SB, SR.PS COPY OF THE ORDER FORWARDED TO: 1. TARA DEVI 2. ACIT, CIRCLE-3, RANCHI 3. C.I.T(A)- 4. C.I.T.- RANCHI 5. CIT(DR), RANCHI BENCH, RANCHI . 6. GUARD FILE. TRUE COPY BY ORDER ASSIST ANT REGISTRAR ITAT, RANCH I BENCH