MRS. RUCHITA JINDAL, MUMBAI V. DY COMM OF INCOME TAX, CENTRAL CIRCLE-3(3), MUMBAI

MA 475/MUM/2023

• Counselvise Citation: [2023] 102 COUNSELVISE.COM (IT) 0174 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-11-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 21-09-2023
• Assessment Year: 2015-2016
• Appeal Filed On: 11-07-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PANKAJ MEHTA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI SHRI AMARJIT SINGH, ACCOUNTANT MEMBER MA No. 475/Mum/2023 [Arising Out of ITA No. 203/Mum/2023] (A.Y. 2015-16) Mrs. Ruchita Jindal 1701, A Wing Summer Trinity Tower, New Prabhadevi, Prabhadevi, Mumbai-400025 Vs. DCIT, CC-3(3) 1923, 19 th Floor, Air India Buidling, Narimal Point, Mumbai-400021 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: ADKPJ5564H Appellant .. Respondent Appellant by : Shri. Bhupendra Shah Respondent by : Shri. Pankaj Mehta Date of Hearing 22.09.2023 Date of Pronouncement 06.11.2023 आदेश / O R D E R PER AMARJIT SINGH :- 1. Vide the miscellaneous application the assessee submitted that the ITAT vide ITA No. 203/Mum/2023 dated 17.05.2023 has directed the AO to restrict addition to the extent of ₹ 5,66,565/- after taking in to consideration the value determined on the date of allotment by the DVO as on 01.11.2023. The assessee submitted that difference between the agreement value of ₹ 7 Crore and value determined by DVB of ₹ 7,05,66,565/- was only 0.08%. In this regard the assessee referred the paper book filed during the course of appellate proceedings before the ITAT. In P a g e | 2 MA No. 475/Mum/2023 AY 2015-16 Mrs. Ruchita Jindal the paper book the assessee has filed copies of judicial pronouncement of ITAT, Mumbai in the case of Cheryl Maria Fernandes Vs ITO (FT) 2(3)(1) ITA No. 4850/Mum/2019 wherein it is held that variation up to @10% need to be tolerated. 2. Heard both the sides and perused the material on record. I find that in the paper book filed by the assessee at page no. 22-28 a copy of ITAT order in the case of Smr. Cheryl Maria Fernandes v/s ITO (FT) 2(3)(1) ITA No. 4850/Mum/2019 was placed on record. In the case of the assessee there is only marginal variation of 0.08% being the difference between value determined by the DVO and the agreement value of the flat purchased by the assessee. In view of the decision of the co-ordinate bench as above already placed on record, considering very nominal variation in value in the case of the assessee, I direct the AO to decide the taxability of the amount as directed in the decision of ITAT as supra. Therefore, miscellaneous application filed by the assessee is allowed. 3. In the result the miscellaneous application filed by the assessee is allowed. Order Pronounced in Open Court on 06.11.2023 Sd/- (AMARJIT SINGH) ACCOUNTANT MEMBER Place: Mumbai Date 06.11.2023 P a g e | 3 MA No. 475/Mum/2023 AY 2015-16 Mrs. Ruchita Jindal ANIKET SINGH RAJPUT/STENO आदेश की प्रतितलति अग्रेतिि/Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant 2. प्रत्यर्थी / The Respondent. 3. आयकर आयुक्त / CIT 4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT, Mumbai 5. गार्ड फाईल / Guard file. सत्यावपि प्रवि //True Copy// आदेशानुसार/ BY ORDER, उि/सहायक िंजीकार (Dy./Asstt. Registrar) आयकर अिीलीय अतधकरण/ ITAT, Bench, Mumbai.