Atul Kumar Agarwal, Begusarai V. ACIT, Circle-2, Begusarai

ITA 94/PAT/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 6329 (ITAT-PATNA)
• Duration Of Justice: 1 year(s) 5 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-09-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 19-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: N O N E
• Keywords: Sale consideration of property below Jantri Value; Capital asset
• Section: 143(3); 50C

Judgement Text

1 ITA NO.94/PAT/2019 ATUL KUMAR AGARWAL, AY-2014-15 IN THE INCOME TAX APPELLATE TRIBUNAL PATNA BENCH, VIRTUAL HEARING AT KOLKATA [BEFORE SHRI S. S. GODARA, JM & DR. A. L. SAINI, AM ] I.T.A. NO. 94/PAT/2019 ASSESSMENT YEAR:2014-15 ATUL KUMAR AGARWAL (PAN: ACCPA7050L) VS. ASSISTANT COMMISSIONER OF INCOME- TAX, CIRCLE-2, BEGUSARAI APPELLANT RESPONDENT DATE OF HEARING 17.09.2020 DATE OF PRONOUNCEMENT 17.09.2020 FOR THE APPELLANT N O N E FOR THE RESPONDENT SHRI AJAY KUMAR, ADDL. CIT, SR. DR ORDER PER BENCH THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 ARISE AGAINST THE ORDER OF COMMISSIONER OF INCOME-TAX (APPEAL)-BHAGLPURS ORDE R DATED 15.12.2016, INVOLVING PROCEEDING U/S. 143(3) OF THE INCOME-TAX ACT, 1961; IN SHORT THE ACT. CASE CALLED TWICE. NONE APPEARS AT THE ASSESSEES B EHEST. ACCORDINGLY WE DISPOSE OF THE INSTANT APPEAL EX PARTE AFTER HEARIN G THE LEARNED CIT-SENIOR-DR. THE CASE IS NOW TAKEN UP FOR ADJUDICATION ON MERITS . 2. FOR THE REASONS STATED IN THE ASSESSEES PETITIO N EXPLAINING DELAY OF 79 DAYS ON ACCOUNT OF COMPILATION OF NECESSARY RECORDS AND COM MUNICATION GAP ETC., WE HOLD THAT THE SAME IS NEITHER INTENTIONAL NOR DELIBERATE BUT ON ACCOUNT OF CIRCUMSTANCES BEYOND HIS CONTROL. THE SAME STANDS CONDONED. THE CASE IS NOW TAKEN UP FOR HEARING ON MERITS. 3. COMING TO THE MERITS OF THE CASE, WE NOTICE THAT NEITHER OF THE LOWER AUTHORITIES HAS MADE REFERENCE TO THE DVO U/S 50C OF THE ACT BE FORE ADDING LTCG OF 25,53,580/- IN ISSUE. THE REVENUES CASE BEFORE US IS THAT NO SUCH PLEA CAME FROM THE ASSESSEES SIDE IN THE COURSE OF ASSESSMENT AS WELL AS IN THE LOWER APPELLATE PROCEEDINGS. WE FIND NO MERIT IN THIS TECHNICAL AR GUMENTGS. HONBLE CALCUTTA HIGH 2 ITA NO.94/PAT/2019 ATUL KUMAR AGARWAL, AY-2014-15 COURTS IN THE CASE OF SUNIL KUMAR AGARWAL VS. COMMISSIONER OF INCOME-TAX 372 ITR 83 (CAL) HOLDS THAT A RESPECTIVE MANDATORY EVEN IF THE ASSESSEE FAILS TO RAISE ANY OBJECTION ABOUT THE CORRECTNESS OF THE STAMP VALUAT ION ADOPTED AT THE TIME OF REGISTRATION OF THE CAPITAL ASSET. THIS ISSUE IS T HEREFORE RESTORED BACK TO THE ASSESSING OFFICER TO ADJUDICATE THE SAME AFRESH AS PER LAW WI THIN THREE EFFECTIVE OPPORTUNITIES OF HEARING. WE ORDER ACCORDINGLY. 4. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTIC AL PURPOSES. ORDER IS PRONOUNCED IN OPEN COURT ON 17TH SEPTEMBER , 2020 AT THE TIME OF HEARING. SD/- SD/- (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) *JD/DKP. SR.P.S. - 17/09/2020 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SHRI ATUL KUMAR AGARWAL, PROP. M/S. MANG AL DAS PRAHLAD DAS, MAIN ROAD, NEAR CITY FASHION, BEGUSARAI-851101. 2. /RESPONDENT-ACIT, CIRCLE-2 BEGUSARAI 3. / CONCERNED CIT BHAGALPUR 4. - / CIT (A) BHAGALPUR 5. , ,/ DR, ITAT, PATNA 6. / GUARD FILE. /TRUE COPY/ BY ORDER/ , SR. PRIVATE SECRETARY, HEAD OF OFFICE/DDO ,