Shri Nigam R. Desai, Vapi V. The Income Tax Officer, Ward-2, Vapi

MA 4/AHD/2016

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5149 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-01-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2008-2009
• Appeal Filed On: 05-01-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: MONIL SHAH
• Keywords: Fair market value

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: SHR I S. S. GODARA , JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER NIGAM R. DESAI, NEHRU STREET, VAPI - 396191 PAN: AIMPD0632R (APPELLANT) VS THE ITO, WARD - 2, VAPI (RESPONDENT) REVENUE BY : S H RI DHARMVIR YADAV , SR. D . R. ASSE SSEE BY: S H RI MONIL SHAH , A.R. DATE OF HEARING : 16 - 12 - 2 016 DATE OF PRONOUNCEMENT : 19 - 01 - 2 017 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - IN THIS CASE, THE A SSESSEE HAS FILED MA ON 1 ST JANUARY, 2016 STATING THAT INADVERTENT MISTAKE WAS FOUND IN THE ORDER OF ITAT DATED 11/12/2015. THE MISTAKE HE STATED WAS THAT IN PARA 8 ; PAGE 6 OF THE ORDER, HON BLE TRIBUNAL HAS HELD AS FAR AS CO IS CONCERNED, LD. M A NO . 04 / A HD/20 16 (IN CO NO. 2 38/AHD/2012) A SSESSMENT YEAR 200 8 - 09 MA NO. 04/AHD/2016 ( IN CO NO. 238 /AHD/20 12 ) A.Y. 2008 - 09 PAGE NO NIGAM R. DESAI VS. ITO 2 AUTHORIZE D REPRESENTATIVE DID NOT SERIOUSLY PRESS THE GROUNDS RAISED IN THE CO, TH EREFORE, THE SAME IS DISMISSED. 2. DURING THE COURSE OF APPELLATE PROCEEDINGS, THE LEARNED COUNSEL STATED THAT AT THE TIME OF HEARING IN THE CASE OF ASSESSEE, THE LEARNED COUNSEL HAD PLACED ON RECORD ORDER OF HON BLE ITAT IN THE CASE OF CO - OWNE R NAMELY; BABUBHAI NIC H CHABHAI DESAI (HUF) ( ITA 373/AHD/2012 ) STATING THAT IN THIS CASE THE CO - ORDINATE B ENCH OF ITAT HAD ALLOWED THE APPEAL IN THE CASE OF CO - OWNER PARTLY BY TAKING FAIR MARK ET VALUE @ 102/ - , THEREFORE, HE CONTENDED THAT RELIEF TO THE EXT ENT ALLOWED BY THE CO - ORDINATE B ENCH TO THE ABOVE NAMED CO - OWNER MAY ALSO BE EXTENDED TO THE ASSESSEE. ON THE OTHER SIDE, LD. DEPARTMENTAL REPRESENTATIVE OBJECTED THE ADMISSION OF MA OF THE A SSESSEE. 3. WE HAVE HEARD BOTH THE SIDES AND GONE THROUGH THE RECORD CAREFULLY. WE FIND FROM THE COPY OF ORDER PRODUCED BY THE LEARNED COUNSEL IN THE CASE OF BABUBHAI NIC H CHABHAI DESAI (HUF) IN WHICH THE COORDINATE BENCH OF THE HON BLE ITAT HELD THAT T HE FAIR MARKET VALUE OF RS. 102/ - BY AVERAGING MIN IMUM AND MAXIMUM RATE GIVEN BY S UB - REGISTRAR , DAMAN AND T HE RATE GIVEN BY GOVT. APPROVED VALUER ( RS. 33+ RS. 135 +RS. 108 = RS. 306/3= RS. 102 ) , WAS APPLIED.WE CONSIDERED THAT THE DECISION OF THE COORDINATE BENCH RELATE TO THE DESCRIPTION OF THE PROPERTY SIMILAR TO THE CASE OF THE ASSESSEE, THEREFORE , THE MA OF THE ASSESSEE IS ALLOWED AND THE ASSESSING OFFICER IS DIRECTED TO ADOPT THE RATE OF RS.102/ - AS DECIDED BY THE MA NO. 04/AHD/2016 ( IN CO NO. 238 /AHD/20 12 ) A.Y. 2008 - 09 PAGE NO NIGAM R. DESAI VS. ITO 3 COORDINATE BENCH OF THE ITAT IN THE C ASE OF BABUBHAI NICHCHABHAI DESAI (HUF) (ITA 373/AHD/2012) FOR THE ASSESSMENT YEAR 2008 - 09 . ORDER PR ONOUNCED IN THE OPEN C OURT ON 19 - 01 - 201 7 SD/ - SD/ - ( S.S. GODARA ) ( AMARJIT SINGH ) JUDICIAL MEMBER ACCO UNTANT MEMBER AHMEDABAD : DATED 19 /01/2017 / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,