MAHESH KUMAR AGARWAL, Alwar V. ITO, Alwar

MA 95/JPR/2016

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 5437 (ITAT-JAIPUR)
• Duration Of Justice: 3 month(s) 6 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-09-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 16-06-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAGHUVIR SINGH DAGUR CIT DHK
• Keywords: Unexplained investment; Sale consideration of property below Jantri Value; Ignorance of law
• Section: 50C; 54

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH DQY HKKJR] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS [KK LNL; DS LE{K BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YAD AV, AM M.A. NO. 95/JP/2016 ARISING OUT IF ITA NO. 781/JP/2013 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2008-09. SHRI MUKESH KUMAR AGARWAL, 96, LAJPATH NAGAR, ALWAR. CUKE VS. THE INCOME TAX OFFICER, WARD 1(4) ALWAR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. ACDPA 9407 C VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : NONE JKTLO DH VKSJ LS@ REVENUE BY : SHRI RAGHUVIR SINGH DAGUR (ADDL. CIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 26.08.2016. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 23/09/2016. VKNS'K@ ORDER PER SHRI KUL BHARAT, JM. THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE ARIS E OUT OF THE ORDER OF THE TRIBUNAL IN ITA NO. 781/JP/2013 SEEKING RECTIFICATI ON OF THE ORDER DATED 18.11.2015 ON THE GROUND THAT SOME INADVERTENT MISTAKES ARE CR EPT IN THE ORDER. 2. NO ONE APPEARED ON BEHALF OF THE ASSESSEE DESPIT E SERVICE OF NOTICE. HOWEVER, A LETTER DATED 05.08.2016 IS ON RECORD STA TING THAT THE ASSESSEE IS UNABLE TO APPEAR. THE MISCELLANEOUS APPLICATION BE DECIDED ON THE BASIS OF SUBMISSIONS MADE IN THE MISCELLANEOUS APPLICATION. THE SUBMISSI ONS IN THE MISCELLANEOUS APPLICATION ARE AS UNDER :- 2 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL FUOSNU GS FD MIJKSDR VKNS'K ESA FJDKMZ DH FUEU FY F[KR LI'V XYFR;KWA GS FTUGS /KKJK 2542 ESA LQ/KKJUS DH D`IK DJSAA BL DSL ESA ESA IWOZ ESA GH DSL DS RF; O FYF[KR FUO SNU VKIDH I=KOYH ESA MIYC/K GSA LU~ 1990 ESA FNY DK NKSJK IM+US HEART ATTACK DS DKJ.K MKWDVJKSA US EQ>S CKGJ TKUS DS FY;S EUK DJ J[KK GS ESJS RHU LVUV MYS GQ, GSA BLFY;S ESSA FINYS 26 LKY LS EKUUH; VK;DJ VIHYH; VF/KDJ.K T;IQJ ESA FYF[K R FUOSNU DS VK/KKJ IJ GH VKNSK IKFJR DJKRK VK JGK GWWA ESJH MEZ VC 81 LKY G KS XBZA BL DSL ESA FNUAKD 13-11-2015 DH RKJH[K FQDL GKS DJ VKBZ FKHA PWWAFD ESJS IKSRS GRANDSON US VHKH C.A. DH GS BLFY;S MLUS EKUUH; ITAT ESA TKUS DK VKXZG FD;K] ESUSA MLDH CKR DKS EKUDJ EKUUH; I.T.A.T. T;IQJ VIHY ESA HKST FN;KA MLUS ESJS FY[KS] GQ;S FUOSNU DS VK/KKJ IJ CGL IWJH DJ NHA CPP S DH CGL DKS IWOZ DS LNL; EGKSN; JHEKU~ RKSYKUH LKGC US LJKGK VKSJ MLDKS CG QR T;KNK IZKSRLKFGR FD;KA JHEKU~ D.R. EGKSN; US HKH VIUH CGL ESA DSOY JHEKU VK;DJ VF/KDK JH EGKSN; O JHEKU VK;DJ VK;QDR EGKSN; VIHYL DS VKNS'KKSA DK L EFKZU FD;KA EKUUH; I.T.A.T. DS FU.KZ; VIHY LQUOKBZ DS CKN VF/KD LS VF/KD ,D EK G ESA VK TKRS GSA ,D EKG FUDYUS DS CKN TC ESUSA VSYHQKSU IJ JHEKU LGK;D IATHDKJ EGKSN; LS LEIDZ FD;K RKS MUGKSUSA TCKC FN;K FD VKID S NKSUKS DSL HEARD GKS PQDS GS YSFDU VKNS'K IKFJR UGHA GQ;S GSA ESUSA ,D GQRS CKN JHEKU~ LGK;D IATHDKJ EGKSN; DKS IQU% QKSU FD;K RKS ;GH TCKC FEYK FD VHKH VKNS'K IKFJR UGH GQ;S GS ESUSA IQ U% FNUAKD 02-01-2016 DKS JHEKU~ LGK;D IATHDKJ EGKSN; DKS I= FY[KK FD ESJS NKSUKSA V IHYSA JH EQDS'K VXZOKY O ;'K VXZOKY ESA FNUAKD 13-11-2015 DKS FLAXY CSP }KJK LQU OKBZ DH XBZ FKH FTUKD MS<+ EKG FUDYUS DS I'PKR~ HKH VKNS'K UGHA VK;S GS EQ>S ,SLK EKYWE IMRK GS FD VKNS'K RKS IKFJR GKS PQDS GS YSFDU XYRH LS VKIDS DK;KZY; LS XYR IRS IJ FMLISP DJ FN;S X;S GSA D`IK TKUDKJH DJDS VKNS'K FHKTOKUS DH D`IK DJSA VDLJ I.T.A.T. LS ,D EKG DS HKHRJ VKNS'K RKEHY DJK FN;S TKRS GSA I= DH NK;K IZF R LAYXU GSA EX-1 TC ESJS BL I= DK HKH TCKC UGHA VK;K RKS ESAUS IQU% FNUAKD 15-01-2016 DKS I= FY[KK FD MIJKSDR NKSUKSA VIHYKS ESA 13-11-2015 DKS S.M.C. }KJK LQUOKBZ DH XBZ FKH YSFDU VKNS'K VKT RD IZKIR UGHA GQ;S GSA PWAFD VC RD VKNS'K UGH FY[KS GS BLFY;S VKUS DH LEHKKOUK UGH GSA BLFY;S ESAUS MULS I= ESA F UOSNU FD;K FD BU NKSUKSA VIHYKS DKS IQU% 'KH?KZ FQDL DJUS DH D`IK DJSAA O;OLK;H NKS UKS VKIL ESA CKI CSVS GSA VKFFKZD FLFKFR CGQR [KJKC GSA FOHKKX EKAX TEK DJKUS DS FY;S NCKO MKY JGK GSA BLFY;S CKJ&CKJ VKILS QKSU IJ FUOSNU DJ JGK GWWAA FTLDS FY; S VKI {KEK DJSAXSA I= DH NK;K IZFR LAYXU GSA EX-2 3 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL TC ESJS }KJK FN;S X;S BL I= DK HKH TCKC UGHA VK;K RKS ESUSA 01-02-2016 DKS IQU% QKSU FD;K RKS JHEKU LGK;D IATHDKJ EGKSN; US UK JKT GKSDJ O >QA>YKDJ TCKC FN;K FD TC LNL; EGKSN; VKNS'K IKFJR DJ NSXSA VKIDKS RQJUR FHKTOK NSAXSA VKNS'K IKFJR DJUK ESJS GKFK ESA UGHA GSA VKI QKSU DJDS EQ> S CKJ&CKJ IJS'KKU U DJSA ESAUS MULS QKSU IJ GH FUOSNU FD;K FD VKI LNL; EGKSN; JH R KSYKUH LKGC LS ESJH VKSJ LS FUOSNU DJ NS FD ODYH LKGC FINYS S {KEK DJSXSAA ESA VKILS VC FJDKMZ DH LI'V XYRH;KSA DKS /KKJK 254 2 OF I.T.A.T. 1961 DS VURXZR LQ/KKJUS DS FY;S FUOSNU DJ JGK GWWA XYRH UA-1 ESUSA EKUUH; I.T.A.T. ESA FYF[KR ESA FUOSNU FD;K FKK FD ;}FI DLC VALUE DK DKUWU A.Y. 2003&04 LS GH YKXW GKS X;K FKK YSFDU IZKFKHZ O;OLK ;H DKS BL DKUWU DS CKJS ESA TKUDKJH UGHA FKHA VK;DJ DKUWU BRUK ISPHNK GS FD GJ DKUWU DH TKUDKJH IZKIR DJUK EQF'DY GH UGHA VLEHKO GS ;}FI ;G EQGKOJK IZFL} GS FD & IGNORANCE OF LAW IS NOT A EXCUSE YSFDU MPPRE U;K;KY; US MOTILAL PADAMPAT SINGHANIA SUGAR MILLS LTD. V/S. STATE OF UTTAR PRADESH (1979) 118 ITR 326 ESA FU.KZ; FN;K GS FD & IT IS TRUE THAT IGNORANCE OF LAW IS NOT A EXCUSE BUT THE SUPREME COURT HAS ALSO HELD THAT THERE IS NO PRESUMPTION THAT EVERYON E KNOWS THE LAW. THIS DICTUM PROFOUNDER BY THE APEX COURT HAS TO BE APPLI ED IN APPROPRIATE CASES. EKKUUH; MPPRE U;K;KY; US HAS TO BE APPLIED IN APPROPRIATE CASES 'KCN FY[KDJ V/KHULFK U;K;KY;KSA O VF/KDKFJ;KSA DKS BL FU .KZ; DH IKYUK DJUS DS FY;S CK/; FD;K GSA VXJ FU.KZ; DH IKYUK DJKUS DS FY;S CK/ ; UGHA DJKUK GKSRK RKS HAS TO BE APPLIED DS LFKKU IJ MAY BE APPLIED KCNKSA DKS IZ;KSX FD;K TKRKA ;G FU.KZ; VKT RD SUPER SEED UGHA GQVKA MPPRD U;K;KY; US ;G R; DJ FN;K GS FD ;G VKO';D 4 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL UGHA GS FD GJ O;FDR LJDKJ DS CUK;S GQ,S GJ DKUWU O FU;E DKS TKUSA BLFY;S BL FU.KZ; DKS APPROPRIATE CASES ESSA YKXW DJUS DS FY;S V/KHULFK U;K;KY;KSA O VF/KDK FJ;KSA DKS CK/; FD;K GSA BL MPPRE U;K;KY; DS FU.KZ; DS CKJS ESA EKUUH; LNL; EGKSN; US VIUS FU.KZ; IST 6 ISJK UA-2 ESA FY[KK GS FD& IN THE WRITTEN SUBMISSION IT IS STATED THAT ASSES SES HAVE ADOPTED THE SALE CONSIDERATION ON STAMP VALUATION AS 11.04.2007 AS A DVISED BY THEIR COUNSEL. INCOME TAX LAW IS VERY COMPLEX AND ASSESSES HAD NO KNOWLEDGE ABOUT AMENDMENT IN SEC. 50C WEF 01.04.03. RELIANCE IS PLA CED ON MOTILAL PADAMPAT SINGHANIA SUGAR MILLS VS. STATE OF UP (197 9) 118 ITR 326 FOR THE PROPOSITION THAT THE MAXIM IGNORANCE OF LAW IS NOT EXCUSE SHOULD BE APPLIED IN ONLY APPROPRIATE CATEGORY OF CASES DONT FALL. ESA VKILS FUOSNU DJUK PKGRK GWWA DH EKUUH; MPPRE U; K;KY; US BL FU.KZ; DKS APPROPRIATE ESSA YKXW DJUS DS FY;S V/KHULFK U;K;KY; O VF/KDKFJ; KSA DS FY;S CK/; FD;K GS BLFY;S HAS TO BE APPLIED 'KCNKSA DKS IZ;KSX FD;K GS OJUK MAY BE APPLIED 'KCNKSA DK IZ;KSX FD;K TK LDRK FKKA ESJK VKILS FUOSNU GS FD BU DSLKS LS T;KNK DKSU LK DSL APPROPRIATE GKS LDRK GSA ESAUS VIUS FYF[KR FUOSNU ESA ISJK UA-6 ESA FY[KK GS MLDKS REPRODUCE DJ JGK GWWA ESA VKILS FUOSNU DJUK PKGRK GWWA FD IZKFKHZ ,D X JHC VKNEH GSA MLDK EQ[; O;OLK; LVKEI OSUMJ DK GSA MLDH IFRU DK LOXZOKL GKS PQDK GSA IFRU DH CHEKJH ESA BRUK :I;K [KPZ GKS X;K FD MLS BL IYKWV DKS CSPUK IM K FTLLS OG CHEKJH ESA GQ, DTSZ DKS PQDK LDSA YSFDU IZKFKHZ DKS IYKWV CSPUS LS HKKJH UQDLKU GKS X;KA IZKFKHZ IJ :I;S 111375@& DH VK;DJ FMEK.M DK;E DJ NH O IQ= ;'K VXZOKY IJ 94676@& DH FMEK.M YXK NH VKSJ /KKJK 2711 C ISUYVH DH RYOKJ FLJ IJ VYX LS YVD JGH GSA MIJKSDR DFKU DS LEFKZU ESA ES VKIDH LSOK ESA JURISDICTIONAL I.T.A.T. JAIPUR BENCH JAIPUR /KKJK 254 OF IT ACT ESA ESLLZ JYOTI PRAKASH MEEL & PARTY JAIPUR VS. DCIT JAIPUR DS DSL ESA (M.A. NO. 74/JP/2010 ARISING OUT OF ITA NO.219& 35 6/JP/2008 (2011) 45 123 DS FU.KZ; DH NK;K IZFR IS'K DJ JGK GWWA EX-3 BL FU.KZ; DS EQ[; VA'K FUEU IZDKJ GSA WHETHER AN ORDER PASSED BY TRIBUNAL IS LIABLE TO B E RECALLED WHEREIN A MISTAKE APPARENT FROM RECORDS HAVE OCCURRED IN ITS EARLIER ORDER? HELD YES 5 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL FURTHER HELD THAT NON-CONSIDERATION OF THE SUBMISS IONS MADE AND VARIOUS CASES CITED BY THE TRIBUNAL IN ITS ORDER IS MISTAKE APPARENT FROM RECORD. BL EKUUH; I.T.A.T. DS FU.KZ;KSA ESA MPPRE U;K;KY; O JKT- MPP U;K;KY;K S DS CGQR LKJS DSLKS DK GOKYK FN;K GQVK GS TKS IZKFKHZ O ;OLK;H DS DSL ESA 'KR IZFR'KR YKXW GKSRS GSA XYRH UA- 2 EKUUH; LNL; EGKSN; US /KKJK 50 C DS DKUWU DKS MANDATORY DEEMING PROVISION CRK;K GSA MUGKSUS VIUS VKNS'K ESA IST UA-7 DS NWLJS ISJK DH VFURE NKS YKBUKSA ESA FY[KK GS FD SECTION 50 C BEING A MANDATORY DEEMING PROVISION AN D ASSESSEE CASE BEING NOT COVERED IN PRESCRIBED EXCEPTION N IN THE ABSENT OF ANY CHALLENGE THE DLC VALUATION OR REQUEST FOR D.V.O. V ALUATION, ASSESEE PLEA ABOUT HARSHNESS OF LAW OR APPLICABILITY OF PAD AMAPAT CASE OF MOLE RASI CASE HAVE NO MERIT. ;G LE{K UGHA VK;K FD JHEKU~ LNL; EGKSN; US ;G FDL V K/KKJ IJ FY[KK GS FD PADAMPAT CASE AND MOOLE RASI CASE HAVE NO MERIT. TKCFD BLS FCUNW IJ VKNS'K ESA ,D HKH 'KCN UGH FY[KK GS FD ;S MERIT ESA D;KS UGH J[KRS GSA MOTI LAL PADAMPAT SINGHANIA DS DSLKS DS CKJS ESA ES IWOZ ESA FOLRKJ LS FUOSNU DJ PQDK GWWA VC ESA VKILS FO'KK[KKIVVUE FVC;WUY DS FU.KZ; MOOLE RASI RETTY VS I.T.O. DS CKJS ESA FUOSNU DJUK PKGRK GWWA ESAUS TKS JHEKU LNL; EGKSN; DKS FYF[KR ESA TCKC FN;K GS MLS ESA RE-PRODUCE DJ JGK GWWAA VKIDH LSOK ESA ,D TKUDKJH VKSJ YKUK PKGRK GWWA FD ; G BDJKJUKEK FNUAKD 11- 04-2007 DKS FY[KK X;K GS ML ODR BL IYKWV DH DLC VALUE 666670/- FKH] FTL IJ O;OLK;H }KJK CAPITAL GAIN TAX TEK DJK FN;K X;K GS YSFDU ;'K VXZOKY DS CKFYX GKSUS IJ FNUAKD 08-01-2008 DKS BL IYKWV DH DLC VALUE RS.13,88,875/- VKADDJ VKNS'K IKFJR FD;K X;KA ;KFU DSOY DJHC 8 EKG DS VURJ KY ESA LJDKJ US DLC VALUE NQXUS LS T;KNK DJ NH TCFD CKTKJ EWY; ESA DKSBZ C<+K SRJH UGHA GQBZ FKHA BL RF; DS LEFKZU ESA VKIDH LSOK ESA FO'KK[KKIVVUE FVC ;WUY DK ,D FU.KZ; IS'K DJ JGK GWWAA FTLESA ;G FU.KZ; FN;K GS FD ,XZHESAUV DH MSV IJ TKS LFDZY JSV DLC VALUE FKH MLS FY;K TKUK PKFG;SA NK;K IZFR LAYXU GSA EX-4 MOOLE RASI RETTY I.T.O. 2011 TIOL 135 6 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL BL DSL ESA O;KIKJH US FTL FNU IZKSIVHZ CSPUS DK AGREEMENT FD;K FKK ML FNU LFDZY JSV DLC VALUE :-14-45 YK[K :- FKK RFKK FTL FNU JFTLVH DJOKBZ X BZ ML FNU MLDK LFDZY JSV 27-14 YK[K :- ESA GKS XBZ FKHA O ;KIKJH US BL IZKSIVHZ DKS 16-2 YK[K :- ESA CSP FN;KA BL DSL ESA O;KIKJH PKGRK FKK FD FTL FNU ADVANCE PAYMENT YSDJ ,XZHESUV FY[KK FKK ML IJ DSIHVY XSU DH CALCULATION DHA EKEYK FVC;WUY RD IGQAPKA EKUUH; FVC;WUY US FU.KZ; FN;K FD& WHETHER FOR THE PURPOSE OF APPLICATION OF SECTION 50C, THE RATE OF PREVAILING AS ON THE DATES OF AGREEMENTS ARE TO BE ADOPTED, IN STEAD OF RATE PREVAILING ON THE DATE OF REGISTRATION OF PROPERTY. HELD-YES. BL FU.KZ; DS CKJS ESA JHEKU LNL; EGKSN; US VIUS VKN S'K ESA DSOY ;G FY[KK GS FD MOOLE RASI CASES HAVE NO MARIT. DKUWU JHEKU LNL; EGKSN; DKS FCUK DKJ.K CRK;S FDLH H KH FCUNW IJ VIHY DKS VLOHDKJ DJUS DH BTKTR UGH NSRK GSA VR% ;G FCUNW FJD KMZ DH LI'V XYRH ESA VKRK GSA DKUWU ESA MANDATORY VKKKID IZKO/KKU MUDKS DGK TKRK GS TKS LCDKS EKU; GKS ;KUH VK;DJ FOHKKX O O;OLK;H DJNKRK NKSUKS DS FY;S C K/;DKJH GKS VKSJ FTL FCUNQ DS F[KYKQ MPPRE U;K;KY; DKS DKSBZ FU.KZ; U GKSA /KKJK 50C ESA VF/KDRJ FU.KZ; DJNKRK DS I{K ESA GS O DQN FU.KZ; FOHKKX DS I{K ESA GS BLF Y;S /KKJK 50C DKS MANDATORY IZKO/KKU DGUK XYR GSA DKUWU ESA ;G HKH IZKO/KKU GS VKSJ EKUU H; MPPRE U;K;KY; US C.I.T. VS VEGETABLE PRODUCTS LTD. (1973) 88 ITR 192 ESA ;G FU.KZ; FN;K GS FD IF TWO VIEWS ARE POSSIBLE THEN ONE VIEW IN FAVOUR OF ASSESSEE SHOULD BE ADOPTED EKUUH; MPPRE U;K;KY; US BRUK RD FU.KZ; NS FN;K GS F D VXJ DKSBZ FU.KZ; O;KIKJH DS I{K ESA GS VKSJ MLS ML FU.KZ; DH TKUDKJH UGHA GS RKS DSL DH LQUOKBZ DJUS OKYS U;K;KY; DK ;G NKF;RO CURK GS FD OG O;OLK;H DS I{K ESA FD;S X;S FU.KZ; DK YKHK O;OLK;H DKS NSAA XYRH UA-3 ESAUS FYF[KR FUOSNU ESA JHEKU LNL; EGKSN; DS LE{K I ATKC ,.M GFJ;K.KK MPP U;K;KY; 2011 220 TAXATION 65 CIT VS CHANDU BUCHER DS FU.KZ; DH NK;K IZFR IS'K DH FKHA BL FU.KZ; DK RKS VIHY VKNSK ESA DKSBZ GOKYK G H UGH FN;K GSA ESUS TKS FYF[KR 7 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL FUOSNU FD;K FKK MLS ESA REPRODUCE DJ JGK GWWA ;G DSL O;OLK;H DS DSL ESA 'KR IZFR'KR YKXW GKSRK GSA ;}FI DKUWU ESA DJ FU/KKZJ.K O'KZ 2003&04 LS RCNHYH VK TKUS DS DKJ.K DJ FU/KKZJ.K VF/KDKFJ;KSA DS FY;S DLC VALUE IJ CAPITAL GAIN DK VKADYU DJUS DS FY;S IKCUN FD;K GS YSFDU FO'KS'K IFJFLFKFR;KSA ESA DJ FU /KKZJ.K VF/KDKJH EGKSN; DKS O;OLK;H }KJK HKKO LS NKKZ;H XBZ DHER ESA CAPITAL GAIN DKS VKADYU DJUS DK VF/KDKJ HKH FN;K GSA JKTLFKKU MPP U;K;KY; DK FU.KZ; BL FCUNW IJ ESJH TKUDKJH ESA UGHA GS YSFDU JHEKU~ VK;DJ VK;QDR EGKSN; VIHY DS LE{K IATKC ,.M GFJ;K.KK MPP U;K;KY; 2011 220 TAXATION 65 CIT VS CHANDU BUCHER DS FU.KZ; DH NK;K IZFR IS'K DH XBZ FKHA ;G DSL VK;DJ VF/KFU;E DH /KKJK 50C 1 DS A.Y 2003-04 LS LA'KKS/KU GKSUS DS CKN DK GS ;KFU A.Y. 2004-05 DK GSA FTLDS EQ[; VA'K BL IZDKJ GSA CAPITAL GAINS- UNEXPLAINED INVESTMENT- SECTION 48 & 50C PURCHASE PRICE TAKEN AS PER STAMP AUTHORITY VALUATION AT RS.303200 0/- AS AGAINST 1706700/- DISCLOSED IN THE SALE DEED & ADDITION OF DEFENDED O F RS.1325000/- MADE.- THE CIT (A) & THE TRIBUNAL DELETE THE ADDITION AS SECTI ON 50C WAS A DEEMING SECTION FOR TAXING CAPITAL GAINS. IN ABSENCE OF POS ITIVE EVIDENCE REGARDING PRICE PAID OVER & ABOVE THE PRICE MENTIONED IN SALE DEED, NO ADDITION CAN BE MADE. HIGH COURT DISMISSES REVENUES APPEAL. BL FU.KZ; ESA FY[KK GS FD& IT NO WHERE PROVIDED THAT THE VALUATION DONE BY TH E STATE GOVERNMENT FOR THE PURPOSE OF STAMP DUTY, ETC, WOULD IPSO FACTO TAKE P LACE THE ACTUAL CONSIDERATION AS BEING A PASSED ON TO THE SELLER BY THE PURCHASE IN THE ABSENCE OF ANY OTHER EVIDENCE. DKUWU ESA ;G HKH IZKO/KKU GS FD MPPRE U;K;KY;] MP P U;K;KY; O VK;DJ VIHYH; VF/KDJ.K DS FU.KZ; V/KHULFK U;K;KY; O VF/KDK FJ;KSA IJ YKXW GKSRS GSA VKSJ MUDH IKYUK DJUK MUDS FY;S CK/;DKJH GSA BLDS LEFKZU ESA VKIDH LSOK ESA 2010 43 T.W. 227 ITO V/S PRASAD PRODUCTION DK FU.KZ; IS'K GSA DK;ZIKFYDK }KJK CUK;S X;S DKUWU O FU;EKSA DKS U;K; IKFYDK ;KFU MPPRE U;K;KY; O VK;DJ VIHYH; VF/KDJ.K DKS CNYUS O RELAXATION NSUS DK IW.KZ VF/KDKJ IZKIR GSA JHEKU VK;DJ LNL; EGKSN; US VIUS VKNS'K ESA ;G UGHA FY[KK FD ;S FU.KZ; D;KSA YKXW UGHA GKSRS GSA] TCFD MIJKSDR NKSUKSA CITATION MPPRE U;K;KY; O MPP U;K;KY; DS] 'KR IZFR'KR IZKFKHZ DS DSL ESA YKXW GKS RS GSAA VR% ;G XYRH 2542 ESA LQ/KKJUS ;KSX; GSA XKYRH UA-4 8 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL JHEKU LNL; EGKSN; US VIUS VKNS'K ESA BL /KKJK 50C DKS UNAMBIGUOUS PROVISION CRK;K GSA MUGKSUS VKNS'K ESA IST UA-7 ISJK 2 ESA F Y[KK GS FD I HAVE HEARD THE RIVAL CONTENTION AND PERUSED AND THE MATERIAL AVAILABLE ON RECORD AS ALSO WRITTEN SUBMISSION FILED BY THE ASSE SSEE. AS PER THE UNAMBIGUOUS PROVISIONS OF SECTION 50C THE SALE CONS IDERATION OF A TRANSFER OF PROPERTY SHALL BE DEEMED TO BE VALUE OF AS TAKEN BY THE REGISTRATION AUTHORITIES FOR LEVY OF STAMP DUTY COMMONLY KNOWN A S DLC RATE, WHICH ARE DULY PUBLISHED IN PUBLIC DOMAIN. ESUSA UNAMBIGUOUS DK LGH VFKZ TKUUS DS FY;S OXFORD DICTIONARY DKS CONSULT FD;KA EQ>S BLESA AMBIGUOUS WORD FEY X;K] FTLDK VFKZ FY[KK GS FD LIABLE TO BE INTERPRETED IN MORE THAN ONE WAY ;KFU FTLDK ,D LS VF/KD VFKZ YXK;K TK LDSA VC WORD UNAMBIGUOUS DK VFKZ VKLKUH LS ;G YXK;K TK LDRK GS FD LIABLE TO BE INTERPRETED IN ONE WAY ONLY YSFDU MPPRE U;K;KY; O MPP U;K;KY;KSA O VK;DJ VIHYH; VF/KDJ.KKS US /KKJK 50C ESA VUSD FU.KZ; IKFJR DJ FN;S GSA FTUESA VF/KDRJ D J NKRK DS I{KK ESA GS DQN FU.KZ; FOHKKX DS I{K ESA GS A BLFY;S BL DKUWU DKS UNAMBIGUOUS PROVISION CRKUK XYR GSA VR% ;G XYRH /KKJK 2542 ESA LQ/KKJU S ;KSX; GSA ESA VKIDH LSOK ESA ,D RF; ;G MTKXJ DJUK PKGRK GWWA FD JHEKU LNL; EGKSN; US /KKJK 50 C DS VURZXR ESJH VIHY FNUAKD 13-11-2005 DKS VLOHDKJ DH GS VKSJ TCFD BLH T;IQJ CSAP DS LNL;KS US ESLLZ NANDLAL SHARMA VS. INCOME TAX OFFICER (2015) 40 ITR (TRIB) 518 JAIPUR DS DSL ESA BLH FCUNQ IJ VIHY LOHDKJ DH GSA BL FU.KZ; DS EQ[; VA'K FUEU IZDKJ GSA NK;K IZFR LAYXU GSA EX-5 SECTION 50C OF THE INCOME TAX ACT 1961, IS A DEEMI NG FICTION BY WHICH THE STAMP DUTY VALUE OF THE ASSET SOLD IS TO BE SUBSTIT UTED FOR THE ACTUAL CONSIDERATION. ITS SCOPE IS LIMITED TO SECTION 50C ALONE AND CANNOT BE ENLARGED WITHOUT A SPECIFIC REFERENCE. IN THE ABSEN CE OF ANY ENABLING STATUTORY PROVISION, A FICTION CANNOT BE IMPORTED IN OTHER SE CTION WHILE COMPUTING THE EXEMPTION UNDER SECTION 54, THE ACTUAL SALE CONSIDE RATION WAS TO BE TAKEN INTO CONSIDERATION AND NOT THE STAMP; DUTY VALUATIO N UNDER SECTION 50C. JHEKU LNL; EGKSN; }KJK /KKJK 50C DS PROVISION DKS UNAMBIGUOUS PROVISION CRKUK XYR GS VR% ;G FJDKMZ DH LI'V XYRH GKSUS DS DK J.K /KKJK 2542 ESA LQ/KKJUS ;KSX; GSA XYRH UA-5 9 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL JHEKU LNL; EGKSN; US BL DSL ESA DKUWU DH DKSBZ IKY UK UGH DH GSA VK;DJ VF/KFU;E DH /KKJK 247 V ESA FY[KK GQVK GS FTLS ESA REPRODUCE DJ JGK GWWA ANY TRANSACTION INVOLVING THE ALLOWING OF THE POSSE SSION OF ANY IMMOVABLE PROPERTY TO BE TAKEN OR RETAINED IN PART PERFORMANC E OF A CONTRACT OF THE NATURE REFERRED TO IN SECTION 53 A OF THE TRANSFER PROPERT Y 1882 (4 OF 1882). BL DKUWU DS VK/KKJ IJ FOKK[KKIVVUE TRIBUNAL US MOOLE RASI DS DSL ESA /KKJK 50 C ESA BDJKJUKES DH RKJH[K IJ CAPITAL GAIN DK VKADYU DJUS DK VKNS'K FN;K GSA EKUUH; ITAT US ;G EGLWL FD;K GS FD AGREEMENT GKS TKUS DS CKN TK;NKN DH JFTLVH DBZ LKY FUDYUS DS CKN GKSRH GS RC RD DLC RATE CGQR VF/KD C<+ TKRH GSA MIJKSDR RF;KSA] DKUWUH FCUNQVKSA O U;K;KF;D FU.KZ; KSA DKS E/;S UTJ J[KRS GQ;S VKILS FUOSNU GS FD IKFJR VKNS'K ESA ESJS }KJK OF.KZ R XYFR;KSA DKS /KKJK 2542 OF I.T. ACT 1961 DS VURZXR LQ/KKJUS DH D`IK DJSAA 2.1. ON THE CONTRARY, THE LD. D/R OPPOSED THE SUBMI SSIONS AND SUBMITTED THAT THERE IS NO MISTAKE APPARENT FROM THE RECORD. HE SU BMITTED THAT THE PROVISIONS OF SECTION 50C ARE CLEAR THAT IN THE EVENT OF ASSESSEE HAD ANY GRIEVANCE WITH REGARD TO ADOPTION OF THE VALUE OF THE PROPERTY ON THE BASIS OF VALUATION MADE BY THE STAMP VALUATION AUTHORITY, THE ASSESSEE WAS REQUIRED TO M AKE A CLAIM BEFORE THE AO. ADMITTEDLY, NO SUCH CLAIM HAS BEEN MADE. THEREFORE, THERE IS NO MISTAKE APPARENT FROM RECORD. ON THE CONTRARY, THE ASSESSEE IS TRYI NG TO SEEK REVIEW OF THE ORDER WHICH IS NOT PERMISSIBLE UNDER THE LAW. 2.2. WE HAVE HEARD RIVAL CONTENTIONS AND PERUSED TH E MATERIAL AVAILABLE ON RECORD. THE CONTENTION OF THE ASSESSEE IS THAT HE W AS NOT AWARE OF THE PROVISIONS OF SECTION 50C OF THE ACT. THIS EXCUSE IS GENERALLY TA KEN BY THE TAX PAYER WHEN HE IS CONFRONTED WITH THE PROVISIONS OF LAW. FURTHER, IT IS NOTEWORTHY THAT EVERY CASE IS NOT SUBJECTED TO SCRUTINY. IT IS NOT A CASE WHERE THE ASSESSEE HAD MADE A CLAIM OF 10 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL VALUATION OTHER THAN VALUATION ADOPTED BY THE STAMP VALUATION AUTHORITY. THEREFORE, CASE LAW AS RELIED BY THE ASSESSEE WOULD NOT HELP. THE TRIBUNAL IS NOT EMPOWERED TO IMPORT/ADD SOMETHING WHICH IS NOT IN THE ACT. TH E DECISIONS ARE RENDERED ON THE BASIS OF THE PROVISIONS OF THE ACT. THIS MAY CAUSE INDIVIDUAL HARDSHIP TO THE TAX PAYER. DESPITE BEING SENSITIVE TO THE PLIGHT OF TH E INDIVIDUAL TAX PAYER, THERE IS NO POWER CONFERRED ON THE TRIBUNAL TO RECALL ITS ORDER MERELY ON THE BASIS THAT ASSESSEE WAS IGNORANT OF THE PROVISIONS. THE ASSESSEE HAS NO T PLACED ANY MATERIAL ON RECORD SUGGESTING THAT IT HAD MADE ANY CLAIM BEFORE THE AO WITH REGARD TO THE VALUATION OF THE PROPERTY. THE ASSESSEE HAS RELIED UPON THE DEC ISION OF THE TRIBUNAL RENDERED IN THE CASE OF NANDLAL SHARMA VS. ITO (2015) 40 ITR (T RIB.) 518 (JAIPUR). THE CASE RELIED ON BY THE ASSESSEE DOES NOT APPLY TO THE FAC TS OF THE PRESENT CASE. IT WAS NOT THE CASE WITH REGARD TO THE VALUATION ADOPTED BY TH E AO BUT IT WAS THE CASE WITH REGARD TO AVAILABILITY OF EXEMPTION UNDER SECTION 5 4 OF THE IT ACT. THEREFORE, THIS DECISION OF THE TRIBUNAL WOULD NOT HELP. AFTER CON SIDERING THE SUBMISSIONS, WE ARE OF THE VIEW THAT THE ASSESSEE HAS NOT POINTED OUT A NY MISTAKE APPARENT FROM RECORD. HENCE THE MISCELLANEOUS APPLICATION IS REJECTED. 3. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 23/09/201 6. SD/- SD/- FOE FLAG ;KNO] ( DQY HKKJR ) ( VIKRAM SINGH YADAV) ( KUL BHARAT ) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 23/09/2016. DAS/ 11 MA 95/JP/2016 SHRI MUKESH KUMAR AGARWAL VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- SHRI MUKESH KUMAR AGARWAL, ALWAR . 2. THE RESPONDENT- THE ITO, WARD 1(4), ALWAR. 3. THE CIT(A). 4. THE CIT, 5. THE DR, ITAT, JAIPUR 6. GUARD FILE ( M.A. 95/JP/2016) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR