The DCIT, Central Circle-3, Vadodara V. Smt. Vidhyaben Mahendra Patel, Vadodara

ITSSA 344/AHD/2019

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 5312 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 7 month(s) 19 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 23-01-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 03-06-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Sale consideration of property below Jantri Value
• Section: 50C

Judgement Text

, ‘B’ । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD (Convened through Virtual Court) BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMEBR & SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMEBR आयकर अपील (एस. एस.) सं./I.T(SS) .A. No. 344/Ahd/2019 ( Assess ment Ye ar : 2013-14) De pu ty C o mmi ss io ner o f In co me- tax Ce ntr al C ir cle – 3 , 60 3, 6 t h Fl oor , Aa yk a r B ha v an, Rac e Co ur se C ir cle , Va do dar a - 39 00 07 / V s . S mt. Vi d hy ab en M a he nd ra P ate l D/ 22, A ja nt a So cie t y, Ell or a Pa rk, S u bha no pur a, Va do dar a यी ल सं./ ीआ आर सं./P A N / G IR N o . : A D K P P 1 9 9 6 R (अपील Appellant) . . ( य / Respondent) अपील र स /Appellant by : Sh ri Sa nj a y A ga rw a l, CI T. DR य क र स / Respondent by : Shri Mukund Bakshi, A.R. स क र! D a t e o f H e a r i n g 24/01/2022 "#$% क र! /D a t e o f P r o n o u n c e m e n t 24/01/2022 ORDER PER ANNAPURNA GUPTA, AM: Th e cap tio n ed ap p eal h as b een filed at th e in s tan ce o f th e Rev en u e ag ain st t h e o rd er o f th e Co mmiss io n er o f Inco me Tax (Ap p eals)-1 2 , Ahmed ab ad (‘CIT(A)’ in sh o rt), d ated 1 8 .0 3 .20 19 arisin g in th e a ss essmen t o rd er d at ed 2 9 .0 2 .2 01 6 p assed b y th e IT(SS)A No. 344/Ahd/2019 (DCIT vs. Smt. Vidhyaben M. Patel ) AY 2013-14 - 2 - Assessin g Officer (AO) u nd er s. 1 53A r.w.s. 1 4 3 (3 ) o f th e In co me Tax Act, 1 9 6 1 (th e Act) co n cern in g AY. 2 0 1 3 -1 4 . 2 . Th e su b stan tiv e g ro un d o f ap p eal raised b y th e Reven u e read s as u n d er:- “1. On the facts and in the circumstances of the case, the Ld, CIT(A) has erred in relying on various decisions of the Hon'ble Court including the decision of Hon'ble High Court of Gujarat in the case of Pr. CIT Vs Saumya Construction Pvt. Ltd., when the facts involved in this case are distinguishable for the reason that all the referred decisions cover the situation where assessment for a particular year was completed. However, in the instant case no assessment for A.Y.2013-14 was completed. Therefore, the issue involved in this case is covered under exception criteria as mentioned in para 10 of circular No.03 of 2018 dated 11.07.2018 and amended on 20.08.2018. 2. On the facts and in the circumstances of the case and in law, the id CIT(A) has erred in deleting the addition of Rs.13,87,200/- on account of ''Long Term Capital Gain', by not appreciating the (act involved in this case that there is difference between the sale consideration shown by the assessee in the books of accounts and that of the consideration as per stamp duty valuation u/s 50C of the I.T. Act.” 3 . At th e ti me o f h e arin g , it was su b mi t ted b y th e Ld .AR fo r th e asse ssee th a t th e ap p eal fil ed b y th e Rev en u e is h i t b y recen tly issu ed CBDT Circ u lar No .1 7 o f 2 019 d ated 08 /0 8 /2 019 rev isin g th e p rev io u s th resh o ld s p ertain in g t o tax e ffect s. I t i s in ter a lia n o ticed th at th e C BDT v id e In stru ctio n No . F. No . 279 /Mis c/M- 9 3 /2 0 18 -ITJ d t. 2 0/0 8 /2 0 1 9 h as ob serv ed th at Circu lar No .1 7 /2 01 9 d ated 0 8 /0 8 /2 0 19 rela tin g to en h an cemen t o f mo n etary li mi ts is also ap p licab le to all p en d in g ap p eals. As p er afo resai d Circu lar read with in stru ct i o n , all p en d in g app eals fi led b y Rev en u e are liab le to b e d is mis sed as a measu re fo r red u cin g lit ig at io n wh ere th e tax effec t d o es n o t ex ceed th e p rescrib ed mo n etary l imi t wh ich is n o w rev ised at Rs.5 0 Lak h s. In th e in stan t case, th e tax e ffec t o n th e d isp u ted issu es raised b y th e Rev en u e is st ated to b e n o t IT(SS)A No. 344/Ahd/2019 (DCIT vs. Smt. Vidhyaben M. Patel ) AY 2013-14 - 3 - ex ceed in g Rs.5 0 l ak h s an d th erefo re ap p eal o f th e Rev en u e is req u ired to b e d is mi ssed in l imin e. 4 . Th e Learn ed DR fo r th e Rev en ue fa irly ad mit ted th e ap p licab i l ity o f th e CBDT Circu lar No . 17 o f 20 19 . Acco rd in g ly , ap p eal o f th e Rev en u e is d ismissed as n o t main ta in ab le . Ho wev er, it wil l b e o p en to th e Rev en u e to seek resto ratio n o f i ts ap p eal o n sh o wing in ap p licab il ity o f th e a fo resaid CBD T Circu l ar in an y man n er. 5 . In th e resu l t, th e a p p eal o f th e Rev en u e is d is miss ed . Sd/- Sd/- (MAHAVIR PRASAD) ( ANNAP URNA GUPTA) JUDICIAL MEMBER ACC OUNTANT M EMB ER Ahmedabad: Dated 24/01/2022 True Copy S.K.SINHA ेश ! " #े" / Copy of Order Forwarded to:- &. र / Revenue 2. आ दक / Assessee ). सं*ं+, आयकर आय - / Concerned CIT 4. आयकर आय - - अपील / CIT (A) 0. 1 2 3ीय 4 4 +,5 आयकर अपील!य अ+,कर%5 अ67द * द / DR, ITAT, Ahmedabad 8. 3 9: ; ल / Guard file. By order/आद श स 5 उप/स6 यक पं ीक र आयकर अपील!य अ+,कर%5 अ67द * द । This Order pronounced in Open Court on 24/01/2022