Asstt.commissioner of Income -tax -Circle -2, Nagpur V. M/s Paul Brothers, Nagpur

MA 85/NAG/2009

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 9532 (ITAT-NAGPUR)
• Duration Of Justice: 2 year(s) 10 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 16-10-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2003-2004
• Appeal Filed On: 23-11-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR MILIND BHUSARI
• Assessee Lawyers: K D DEWANI
• Keywords: Sale consideration of property below Jantri Value

Judgement Text

MA NO. 85/NAG/2009 PAUL BROTHERS, NAGPUR IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH , NAGPUR BEFORE: SHRI P.K. BANSAL , ACCOUNTANT MEMBER AND SHRI D.T. GARASIA , JUDICIAL MEMBER M A NO. 85 / NAGPUR / 20 09 (ARISING OUT OF ITA NO.190/NAG/200 8 ) ASSESSMENT YEAR : 2003 - 04 A CIT, CIRCLE - 2 NAGPUR VS. M/S. PAUL BROTHERS NAGPUR (APPELLANT) (RESPONDENT) PAN NO.AAEFP 2557R APPELLANT BY: DR. MILIND BHUSARI, CIT(DR) RESPONDENT BY: SHRI K.D. DEWANI, ADVOCATE DATE OF HEARING: 12.10.12 DATE OF PRONOUNCEMENT: 16.10.12 ORDER PER P.K . BANSAL, ACCOUNTANT MEMBER: - IN THIS MISCELLANEOUS APPLICATION FILED BY THE REVENUE, IT WAS STATED THAT A MISTAKE OF LAW HAS CREPT INTO THE ORDER OF THIS TRIBUNAL. THE TRIBUNAL HOLD THAT SINCE THE MATTER WAS NOT REFERRED TO THE VALUATION CELL BEFORE APPLYING SECTION 50C, THE ORDER OF THE ASSESSING OFFICER WAS INCORRECT. IT WAS STATED THAT THE ASSESSEE ENCLOSED A SHEET WITH ITS INCOME, WHEREIN, IT WAS CLEARLY STATED THAT THE PURCHASER HAS APPLIED FOR ADJUDICATION OF VALUE FOR STAMP DUTY FIXED UNDER TH E REGISTRATION ACT. ONCE SUCH DECLARATION IS GIVEN IN THE RETURN, SECTION 50C(2) IS NOT APPLICABLE AND NO REFERENCE NEED TO BE MADE TO THE VALUATION CELL. THEREFORE, THE ORDER OF THE ASSESSING OFFICER PASSED WITHOUT REFERENCE TO THE VALUATION CELL IS VAL ID. 2. WE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY CONSIDERED THE SAME. IN OUR OPINION, THERE IS NO MISTAKE IN THE ORDER OF THE TRIBUNAL DATED 22.6.2009. THE TRIBUNAL HAS GIVEN A FINDING AFTER APPRECIATING THE FACTS AND LAW. THE LD. D.R. COULD NOT S PECIFICALLY FIND OUT THE MISTAKE OF LAW COMING OUT OF THE ORDER OF THE TRIBUNAL. THE TRIBUNAL DOES NOT HAVE THE POWER TO REVIEW ITS OWN ORDER. THE MISTAKE MUST BE MA NO.85/NAG/ 2009 PAUL BROTHERS, NAGPUR 2 APPARENT. WHEREVER THERE ARE TWO VIEWS POSSIBLE, IT CANNOT BE SAID THAT THERE IS A MISTAKE APPARENT ON RECORD. WE ACCORDINGLY, DISMISS THE MISCELLANEOUS APPLICATION. 3. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 16.10 .20 1 2 SD/ - SD/ - ( D.T. GARASIA ) (P.K. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER VG/SPS NAGPUR DATED 16 TH OCTOBER , 20 1 2 COPY TO 1 ACIT, CIRCLE - 2, NAGPUR 2 PAUL BROTHERS, NEAR INDORA POLICE CHOWKI, KAMPTEE ROAD, NAGPUR 3 CIT - 1, NAGPUR 4 THE CIT (A) , NAGPUR 5 THE DR, ITAT, NAGPUR 6 GUARD FILE. BY ORDER SR. PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL NAGPUR