ITO, Hyderabad V. Smt. M Shoba Rani, Hyderabad

ITA 922/HYD/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 9784 (ITAT-HYDERABAD)
• Duration Of Justice: 8 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-03-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 17-08-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 17-06-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AMLAN TRIPATHY
• Assessee Lawyers: R D RATHI
• Section: 54

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI G.C.GUPTA, VICE PRESIDENT AND SHRI AKBER BASHA, ACCOUNTANT MEMBER ITA NO.922/HYD/10 : AS STT. YEAR 2006-07 INCOME - TAX OFFICER, WARD - 7(2) , HYDERABAD V/S. SMT. M.SHOBA RANI, HYDERABAD ( PAN - AMJPM 4681 Q ) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI AMLAN TRIPATHY RESPONDENT BY : SHRI R.D.RATHI O R D E R PER G.C.GUPTA, VICE PRESIDENT: THIS APPEAL BY THE REVENUE FOR THE ASSESSMENT YEA R 2006- 07 IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONE R OF INCOME- TAX(APPEALS). 2. GROUNDS OF APPEAL OF THE REVENUE ARE AS UNDER- 1. THE ASSESSEE INVESTED RS.22 LAKHS FOR PURCHASE OF PROPERTY ON 10-01-2006. 2. THE ASSESSEE SOLD AGRICULTURAL LAND FOR RS.10,65 ,000/- ON 08-05-2006 AND FOR RS.10,50,000/- ON 08-05-2006 3. IN THIS CASE PURCHASE MADE FOR RS.22 LAKHS SHOWS AS SALE AND SALE OF AGRICULTURAL LAND SHOWN AS PURCHASE I.E . RS.1,65,000 & RS.10,50,000/-. HENCE, THE EXEMPTION U/S. 54 CLAIMED BY THE ASSESSEE IS WRONG AND IT DOE S NOT ARISE. 4. FOR PURCHASE OF PROPERTY THE ASSESSEE HAS TAKEN LOAN FROM HER HUSBAND, WHICH WAS NOT PRODUCED DURING THE TIM E OF ASSESSMENT PROCEEDINGS AND PRODUCED BEFORE CIT(A) IS NOT CONVINCING MANNER. ITA NO.922/HYD/10 SMT. M.SHOBA RANI, HYDERABAD 2 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS R ELIED ON THE ORDER OF THE ASSESSING OFFICER. THE LEARNED COU NSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSING OFFICER HAS SUBMITTED A REMAND REPORT DATED 26 TH FEBRUARY,2010, WHEREIN AFTER VERIFICATION HE HAS ADMITTED THAT THE SOURCE OF RS.21 LAKHS MAY BE ACCEPTED. HE RELIED ON THE ORDER OF THE CIT(A). 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND H AVE PERUSED THE ORDERS OF THE ASSESSING OFFICER AND THE CIT(A). WE FIND THAT THE CIT(A) DURING THE COURSE OF APPELLATE PROC EEDINGS , HAS CALLED FOR A REMAND REPORT FROM THE ASSESSING OFFICER. THE ASSESSING OFFICER, VIDE HIS LETTER DATED 26.2.2010, HAS ADMITTED THAT THE ASSESSEES HUSBAND SHRI M.SHIVA SHANKAR, WHO IS ALSO A PARTNE R IN SRI LAKSHMI NARASIMHA GRAPE GARDEN HAD WITHDRAWN CASH OF RS. 21 LAKHS FROM THAT FIRM ON THREE DIFFERENT DATES AND HENCE, THE S OURCE TO THE EXTENT OF RS.21 LAKHS MAY BE ACCEPTED. THIS REMAND REPORT OF THE ASSESSING OFFICER COULD NOT BE CONTROVERTED ON BEHALF OF THE REVENUE. THE CIT(A) HAS RECORDED THAT THE SAME AMOUNT OF RS.21 LAKHS WI THDRAWN BY THE ASSESSEES HUSBAND HAS BEEN UTILISED BY THE ASSESSE E TO PURCHASE THE PROPERTY AT GOWLIGUDA, HYDERABAD. IN THESE FACTS, WE HOLD THAT THERE IS NO MISTAKE IN THE ORDER OF THE CIT(A) IN DELETIN G THE ADDITION MADE AND ACCORDINGLY, THE ORDER OF THE CIT(A) IS CONFIR MED AND THE GROUNDS OF APPEAL OF THE REVENUE ARE REJECTED. 3. IN THE RESULT, APPEAL OF THE REVENUE IS DISMIS SED . ORDER PRONOUNCED IN THE COURT ON 11.3.2011 SD/- SD/- (AKBER BASHA) (G.C.GUPTA) ACCOUNTANT MEMBER VICE PRESIDENT DT/- 11 TH MARCH, 2011 ITA NO.922/HYD/10 SMT. M.SHOBA RANI, HYDERABAD 3 COPY FORWARDED TO: 1. SMT. M.SHOBHA RANI, D.NO.15 - 4 - 264, OSMAN SHAHI, HYDERABAD. 2. INCOME - TAX OFFICER, WARD - 7(2) , HYDERABAD . 3. COMMISSIONER OF INCOME - TAX(APPEALS), VI, HYDERABAD. 4. COMMISSIONER OF INCOME - TAX VI HYDERABAD 5. DEPARTMENTAL REPRESENTATIVE, ITAT, HYDERABAD. B.V.S.