Sri VGK Prasad., Hyderabad V. The ACIT, Circle-2(1)., Vijayawada

ITSSA 8/VIZ/2008

• Counselvise Citation: [2010] 124 COUNSELVISE.COM (IT) 8684 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 year(s) 10 month(s) 24 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 30-12-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 27-12-2010
• Assessment Year: misc
• Appeal Filed On: 05-02-2008
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T L PETER
• Assessee Lawyers: N O N E

Judgement Text

IT(SS)A NO.8/V/2008 VGK PRASAD, VJA IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER IT (SS) A NO. 8 /VIZAG/ 20 08 BLOCK PERIOD : 01.04.1985 TO 27.03.1996 V .G.K. PRASAD VIJAYAWADA ACIT CIRCLE - 2(1) VIJAYAWADA (APPELLANT) VS. (RESPONDENT) PAN NO. AABHV 5829F APPELLANT BY: N O N E RESPONDENT BY: SHRI T.L. PETER, DR ORDER PER SHRI S.K. YADAV, JUDICIAL MEMBER : - THIS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE CIT(A) ON VARIOUS GROUNDS WHICH ARE AS UNDER: 1. THE ORDER OF THE ASSESSING OFFICER IS ERRONEOUS, UNJUST BOTH ON FACTS AND IN LAW AND ALSO IS NOT IN ACCORDANCE WITH THE DIRECTIONS OF THE HONOURABLE ITAT. 2. THE ASSESSING OFFICER ERRED IN DETERMINING THE DIFFERENCE IN THE COST OF CONSTRUCTION OF THE BUILDING AT RS.8,89,120 AS WAS DONE IN THE ORIGINAL ASSESSMENT PROCEEDINGS. 3. THE ASSESSING OFFICER ERRED IN HOLDING THAT THE COST OF CONSTRUCTION OF THE BUILDING AS FIXED BY THE VALUATION CELL O F RS.13,15,120 IS THE CORRECT COST OF CONSTRUCTION INCURRED BY THE APPELLANT, WITHOUT CONSIDERING VARIOUS EXPLANATIONS ALREADY SUBMITTED DURING THE COURSE OF ORIGINAL ASSESSMENT PROCEEDINGS. 4. THE ASSESSING OFFICER ERRED IN NOT CONSIDERING THE COST OF CONSTR UCTION OF RS.4,00,000 INCURRED BY THE APPELLANT DURING THE FINANCIAL YEAR 1992 - 93, INSPITE OF THE FACT THAT THE APPELLANT FROM THE DAY OF SEARCH WAS MENTIONING THAT THE CONSTRUCTION OF THE BUILDING WAS COMPLETED ONLY ON 31.3.1993. 5. THE ASSESSING OFFICER ERR ED IN DETERMINING THE TOTAL UNDISCLOSED INCOME AT RS.9,13,423. 6. ANY OTHER GROUND THAT MAY BE URGED AT THE TIME OF HEARING. 2. THIS APPEAL CAME UP FOR HEARING ON 27.12.2010 BUT NONE APPEARED ON BEHALF OF THE ASSESSEES. FROM PERUSAL OF RECORD, IT IS NOTICED THAT THIS MATTER WAS LISTED ON VARIOUS DATES BUT MOST OF THE TIME THE HEARING WAS ADJOURNED FOR ONE REASON OR THE OTHER. EVEN ON 7 TH JANUARY, 2010 AND 2 ND FEBRUARY, 2010, THE HEARING WAS ADJOURNED WITH LAST OPPORTUNITY TO THE ASSESSEES. THIS MATTER AGAIN CAME UP FOR HEARING ON 11 TH OF NOVEMBER, 2010 AND ASSESSEE IT(SS)A NO.8/V/2008 VGK PRASAD, VJA 2 MOVED AN APPLICATION FOR ADJOURNMENT WHICH WAS AGAIN ACCEDED TO WITH LAST OPPORTUNITY AND THE MATTER WAS ADJOURNED FOR TODAY. DESPITE OF VARIOUS LAST OPPORTUNITIES GIVEN TO THE ASSESS EE, NONE APP EARED ON HIS BEHALF, WE THEREFORE, HAD NO OPTION BUT TO HEAR THE APPEAL. ACCORDINGLY, THE ASSESSEE WAS PROCEEDED EX - PARTE AND REVENUE WAS HEARD. 3. THE LD. D.R. HAS INVITED OUR ATTENTION THAT EVEN BEFORE THE CIT(A), NONE APPEARED ON THE LAST DATE OF HEA RING. THE CIT(A) HOWEVER, RE - EXAMINED THE ASSESSMENT ORDER AND THE MATERIAL PLACED BEFORE HIM AND CONFIRMED THE ORDER OF THE A.O. DURING THE COURSE OF THE HEARING OF THE APPEAL, NO INFIRMITY WAS POINTED OUT IN THE ORDER OF THE CIT(A). WE HOWEVER, CAREFU LLY EXAMINED THE ORDER OF THE CIT(A) AND FIND NO INFIRMITY THEREIN . WE THEREFORE CONFIRM THE SAME. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 30.12 .20 10 SD/ - SD/ - (BR BASKARAN) (SUNIL KUMAR YAD AV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 30 TH DECEMBER , 20 10 COPY TO 1 SRI V.G.K. PRASAD, C/O SRI S. RAMA RAO, FLAT NO.103, INDIRA DEVI NILAYAM, HIMAYATNAGAR, ST.NO.7, HYDERABAD - 50 0 029. 2 ACIT, CIRCLE - 2(1), VIJAYAWADA 3 THE CI T, VIJAYAWADA 4 THE CIT (A) , VIJAYAWADA 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM