PRAVIN GANPAT KADU, MUMBAI V. ITO WD. 4, PANVEL, PANVEL

MA 290/MUM/2016

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5893 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 5 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 29-11-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 24-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V JANARDHAN
• Keywords: Sale consideration of property below Jantri Value
• Section: 50C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM M A NO. 290 / MUM/20 16 (ARISING OUT OF ITA NO.4165/MUM/2015) ( ASSESSMENT YEAR : 2011 - 12 ) SHRI PRAVIN GANPAT KADU HOUSE NO.480 AT NAVGHAT JNPT TOWNSHIP TALUKA: URAN, DI STRICT: RAIGAD VS. I TO WARD - 4, PANVEL PAN/GIR NO. AMHPK6351M APPELLANT ) .. RESPONDENT ) ASSESSEE BY SHRI PRAKASH PANDIT REVENUE BY SHRI V JANARDHAN DATE OF HEARING 06 / 10 /201 7 DATE OF PRONOUNCEME NT 29 / 11 /201 7 / O R D E R PER R.C.SHARMA (A.M) : THIS M.A. AROUSE OUT OF ITA NO.4165/MUM/2015. 2. THROUGH THIS M.A, IT WAS CONTENDED BY LEARNED AR THAT THERE IS A MISTAKE APPARENT IN THE ORDER OF TRIBUNAL DATED 20/07/2016 I N SO FAR AS GROUND NO. 3 & 4 WAS NO T DECIDED BY THE TRIBUNAL BUT WAS PRESSED DURING THE COURSE OF HEARING. OUR ATTENTION WAS INVITED TO PARA 6 OF THE ORDER WHEREIN THE TRIBUNAL HAVE OBSERVED THAT OTHER GROUNDS WERE NOT PRESSED BY LEARNED AR. THE SAME WERE THEREFORE, DISMISSED AS NOT PRESSE D. 3. WE HAVE GONE THROUGH THE ORDER OF THE TRIBUNAL AND FOUND THAT IN GROUND NO. 3 & 4 ASSESSEE HAS RAISED THE ISSUE WITH REGARD TO SHARE IN THE SALE CONSIDERATION FOR THE PURPOSE OF COMPUTING CAPITAL GAINS, HOWEVE R, THE TRIBUNAL HAVE DECIDED ONLY THE I SSUE WITH REGARD TO M A NO.290/MUM/2016 SHRI PRAVIN GANPAT KADU 2 APPLICABILITY OF PROVISIONS OF SECTION 50C AND DECIDED THE SAME IN FAVOUR OF THE ASSESSEE. HOWEVER, GROUND NO.3 & 4 REMAINS TO BE DECIDED. ACCORDINGLY, WE RECALL THE ORDER OF THE TRIBUNAL TO A LIMITED EXTENT OF DECIDING GROUND NO. 3 & 4 AS PRAYED IN THE MA. 4. IN THE RESULT, MA F ILED BY THE ASSESSEE IS ALLOWED IN TERMS INDICATED HEREINABOVE. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 29 / 11 /2017 S D/ - ( R.C.SHARMA ) ACCOUNTANT MEMBER MUM BAI ; DATED 29 / 11 /201 7 KARUNA SR. PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//