Prakash c.Sawalani, CHENNAI V. ACIT, CHENNAI

ITA 932/CHNY/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 90383 (ITAT-CHENNAI)
• Duration Of Justice: 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-05-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 24-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P RADHAKRISHNANJCIT
• Assessee Lawyers: NARENDRA KUMAR
• Keywords: Opportunity of being heard; Application of stay; Fair market value
• Section: 54F

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , C B ENCH, CHENNAI . , ! # $ , % & BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER I.T.A.NO.932/MDS/2015 & S.P. NO.341/MDS /2015 (IN ITA NO.932/MDS/2015) ( / ASSESSMENT YEAR: 2010-11) MR. PRAKASH C.SAWALANI, C-134, SUNNYVALE, 351, KONNUR HIGH ROAD, CHENNAI - 600 023. VS ASSISTANT COMMISSIONER OF INCOME TAX, BUSINESS CIRCLE-XIV, CHENNAI - 34 . PAN: ACIPP8567D ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. NARENDRA KUMAR, ADVOCATE /RESPONDENT BY : MR. P.RADHAKRISHNAN,JCIT /DATE OF HEARING : 22 ND MAY, 2015 /DATE OF PRONOUNCEMENT : 22 ND MAY, 2015 / O R D E R PER CHALLA NAGENDRA PRASAD, JM: BOTH THE STAY APPLICATION AND APPEAL ARE FILED BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2010-11. 2. COUNSEL FOR THE ASSESSEE SUBMITS THAT STAY PETIT ION IS FILED FOR REQUESTING GRANT OF STAY OF OUTSTANDING D EMAND OF ` 6,92,120/-. COUNSEL SUBMITS THAT THE SAID DEMAND AR OSE ON ACCOUNT OF ASSESSING CAPITAL GAINS PARTLY ALLOWING EXEMPTION UNDER SECTION 54F OF THE ACT. COUNSEL FURTHER SUBMI TS THAT WHILE COMPUTING CAPITAL GAINS, ASSESSING OFFICER AD OPTED FAIR MARKET VALUE AS ON 01.04.1981 AT ` 40,000/- FOR THE LAND AS AGAINST ` 3,25,000/- ADOPTED BY THE ASSESSEE THEREFORE 2 ITA NO.932/MDS/2015 & S.P. NO.341/MDS/2015 COMPUTATION OF CAPITAL GAIN VARIES FROM ASSESSING O FFICER TO ASSESSEE. COUNSEL FURTHER SUBMITS THAT APPEAL OF T HE ASSESSEE WAS DISPOSED OFF BY THE COMMISSIONER OF IN COME TAX (APPEALS) EX-PARTE WITHOUT GIVING SUFFICIENT OP PORTUNITY TO THE ASSESSEE. COUNSEL FOR THE ASSESSEE UNDERTAKES TO APPEAR BEFORE THE COMMISSIONER OF INCOME TAX (APPEA LS) WITHOUT TAKING ADJOURNMENTS AND COOPERATE WITH THE PROCEEDINGS BEFORE HIM. THEREFORE, COUNSEL SUBMITS THAT APPEAL MAY BE RESTORED TO THE FILE OF THE COMMISSIO NER OF INCOME TAX (APPEALS) AS NO PROPER OPPORTUNITY WAS G IVEN TO THE ASSESSEE. 3. DEPARTMENTAL REPRESENTATIVE HAS NO SERIOUS OBJEC TION IN REMITTING THE APPEAL TO THE FILE OF THE COMMISSI ONER OF INCOME TAX (APPEALS). 4. HEARD BOTH SIDES. PERUSED ORDERS OF LOWER AUTHOR ITIES. ON GOING THROUGH THE ORDER OF THE COMMISSIONER OF I NCOME TAX (APPEALS) WE FIND THAT WHEN THE MATTER WAS POST ED FOR HEARING THE ASSESSEE REQUESTED FOR ADJOURNMENT SEE KING DATE AFTER THREE MONTHS. HOWEVER, THE COMMISSIONER OF 3 ITA NO.932/MDS/2015 & S.P. NO.341/MDS/2015 INCOME TAX (APPEALS) OF THE OPINION THAT IT IS NOT POSSIBLE FOR SUCH A LONG ADJOURNMENT AND FIXED THE DATE OF HEARI NG AFTER A PERIOD OF TWO WEEKS. ON THE SAID DATE, THE ASSESSEE COULD NOT APPEAR AND THEREFORE APPEAL WAS DISPOSED OFF. IN OUR VIEW, THE COMMISSIONER OF INCOME TAX (APPEALS) SHOU LD HAVE GIVEN ONE MORE OPPORTUNITY TO THE ASSESSEE. IN THESE CIRCUMSTANCES, WE RESTORE THE APPEAL OF THE ASSESSE E TO THE FILE OF COMMISSIONER OF INCOME TAX (APPEALS) FOR FR ESH ADJUDICATION, AFTER PROVIDING ADEQUATE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. THUS THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. 5. SINCE THE APPEAL ITSELF IS DISPOSED OFF, THE STA Y PETITION FILED BY THE ASSESSEE BECOMES INFRUCTUOUS AND SAME IS DISMISSED ACCORDINGLY. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND DAY OF MAY, 2015 . SD/- SD/- ( . ) ( ' )* ) ( A.MOHAN ALANKAMONY ) ( CHALLA NAGENDRA PRASAD ) , / ACCOUNTANT MEMBER ) , / JUDICIAL MEMBER ) /CHENNAI, . /DATED 22 ND MAY, 2015 SOMU 4 ITA NO.932/MDS/2015 & S.P. NO.341/MDS/2015 12 32 / COPY TO: 1. APPELLANT 2. RESPONDENT 3. 4 () /CIT(A) 4. 4 /CIT 5. 2 7 /DR 6. /GF .