MR JAYADEEP BOKIL,PUNE V. ITO WARD-5(2), PUNE, PUNE

ITA 428/PUN/2025

AI Insights

The case involves an appeal by Jayadeep Bapusaheb Bokil against the order of the CIT(A)/NFAC, Delhi, which confirmed an addition of Rs.27,15,000 to the income of the assessee under section 144 of the Income Tax Act for the assessment year 2020-21. The addition was based on the value adopted by the Stamp Valuation Authority for an immovable property, which the assessee contested as being excessively high. The assessee's counsel requested the matter be remitted back to the Assessing Officer as they had now secured a Registered Valuer to reassess the property, which was not possible during the earlier proceedings. The Departmental Representative did not object to this request.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 471156 (ITAT-PUNE)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2020-2021
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BASAVARAJ HIREMATH ADDL
• Assessee Lawyers: KRISHNA GUJARATHI VIRTUAL
• Keywords: Opportunity of being heard; Fair market value; Valuation report

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER AND SHRI S S VISWANETHRA RAVI, JUDICIAL MEMBER ITA No.428/PUN/2025 Assessment Year : 2020-21 Jayadeep Bapusaheb Bokil S.No.65/3, H.No.26, Anjani Behind Gandhavarv, Pune Satara Road, Katraj, Pune – 411046 Vs. ITO, Ward 5(2), Pune PAN : ANPPB9727K (Appellant) (Respondent) Assessee by : Shri Krishna Gujarathi (virtual) Department by : Shri Basavaraj Hiremath – Addl CIT Date of hearing : 27-03-2025 Date of pronouncement : 28-03-2025 O R D E R PER S S VISWANETHRA RAVI, JM : This appeal filed by the assessee is directed against the order dated 27.12.2024 of the Ld. CIT(A)/NFAC, Delhi, relating to assessment year 2020-21. 2. The assessee raised the following grounds of appeal: 1) On the facts and circumstances of the case and in law the honorable CIT(A) erred and is not justified in confirming the addition of Rs.27,15,000/- u/s 144 without appreciating the facts of the case. The appellant hereby requests your honour to kindly delete the said addition to the income and oblige. 2) The appellant hereby reserves the right to add, amend, alter, delete or raise any additional ground of appeal. 3. The Ld. Counsel for the assessee at the outset submitted that the assessee was unable to get the valuation from the Registered Valuer during the course of 2 ITA No.428/PUN/2025 assessment proceedings and appellate proceedings to prove that FMV of immovable property is much less than the value adopted by Stamp Valuation Authority. However, now the Registered Valuer has agreed to do the valuation of the immovable property located in a remote village which is the subject matter of the alleged addition. He, therefore, prayed that the matter may be remitted back to the file of the Assessing Officer for necessary compliance. The Ld. DR did not object for the request of the Ld. Counsel for the assessee. 4. Considering the totality of the facts of the case and in the interest of justice, we deem it proper to restore the issue to the file of the Assessing Officer for fresh adjudication on due consideration of valuation report to be procured by the assessee from the Registered Valuer. Needless to say, that the Assessing Officer shall provide due opportunity of being heard to the assessee. The grounds raised by the assessee are accordingly allowed for statistical purposes. 5. In the result, the appeal filed by the assessee is allowed for statistical purposes. Order pronounced in the open Court on this 28th March, 2025. Sd/- Sd/- (MANISH BORAD) (S S VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER पुणे Pune; दिन ांक Dated : 28th March, 2025 GCVSR 3 ITA No.428/PUN/2025 आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपीलार्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. 4. The concerned Pr.CIT, Pune DR, ITAT, ‘SMC’ Bench, Pune 5. गार्ड फाईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अधिकरण ,पुणे / ITAT, Pune . , S.No. Details Date Initials Designation 1 Draft dictated on 27.03.2025 Sr. PS/PS 2 Draft placed before author 27.03.2025 Sr. PS/PS 3 Draft proposed & placed before the Second Member JM/AM 4 Draft discussed/approved by Second Member AM/AM 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order "