Smt. S.M.Shoba, Bengaluru V. Income Tax Officer, Ward - 7(2)(1), Bangalore

MA 55/BANG/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 2944 (ITAT-BANGALORE)
• Duration Of Justice: 3 month(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-09-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 04-08-2022
• Assessment Year: 2016-2017
• Appeal Filed On: 23-05-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Gift

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER M.P. No. 55/Bang/2022 (in ITA No. 1955/Bang/2019) Assessment Year : 2016-17 Smt. S.M. Shoba, No. 1489, First Floor, 40 th Cross, 4 th T Block, Jayanagar, Bangalore – 560 041. PAN: CXKPS1454H Vs. The Income Tax Officer, Ward 7 (2)(1), Bangalore. APPELLANT RESPONDENT Assessee by : Shri S. Ramasubramanian, CA Revenue by : Shri K.R. Narayana, Addl. CIT DR Date of Hearing : 05-08-2022 Date of Pronouncement : 06-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present miscellaneous petition is filed by assessee against order dated 03/03/2022 seeking certain typographic error that has crept in. 2. The Ld.AR submitted that in para 2.2, there are some factual mistakes that has been recorded. He submitted that in para 2.2, it is stated that the land was gifted to assessee and her husband Mr. K.C. Narayanaswamy vide release deed dated 03/12/2014. He submitted that this is factually not correct as assessee along with her father and her husband bought a Page 2 of 3 M.P. No. 55/Bang/2022 (in ITA No. 1955/Bang/2019) property on 10/02/2012. Later vide release deed dated 03.12.2014, the assessee’s father Mr. Muniyappa released his title in favour the assessee by way of gift. It is submitted that assessee is therefore owner of 2/3 rd share of the property and assessee’s husband remained the owner of only 1/3 rd share. It is submitted that Shri Muniyappa did not gift any portion of his interest in the property to Shri K.C. Narayanaswamy and to this extent the observations recorded in the order at page 4 deserves to be corrected. The Ld.DR did not object for the submissions of the assessee. 3. We have perused the records and found the submissions of assessee to be true. Accordingly, we correct the para relevant portion of para 2.2 as under: “2.2...............................It is submitted before the Ld.CIT(A), that the assessee has not submitted the details of Sale Deed dated 29.01.2015. The assessee submitted that no Sale Deed executed on 29.01.2015 by or in favour of the assessee and that there has been a Gift of the property given out of natural love and affection by the assessee's father to the assessee under a document titled as Release Deed executed by the father on 03.12.2014. The assessee submits that by virtue of the Gift Deed termed as Release Deed dated 03.12.2014 the assessee's father gifted and renounced his undivided rights, Page 3 of 3 M.P. No. 55/Bang/2022 (in ITA No. 1955/Bang/2019) interest in the property in favor of his daughter i.e., the assessee.” 4. The above referred para shall be henceforth read as replaced in the impugned order. In the result, the M.P. filed by the assessee stands allowed. Order pronounced in the open court on 06 th September, 2022. Sd/- Sd/- (CHANDRA POOJARI) (BEENA PILLAI) Accountant Member Judicial Member Bangalore, Dated, the 06 th September, 2022. /MS / Copy to: 1. Appellant 4. CIT(A) 2. Respondent 5. DR, ITAT, Bangalore 3. CIT 6. Guard file By order Assistant Registrar, ITAT, Bangalore