KEDIA LIFESPACE DEVELOPERS PRIVATE LIMITED,JHARSUGUDA vs. DEPUTY COMMISSIONER OF INCOME TAX , SAMBALPUR
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Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK
Before: SHRI GEORGE MATHAN & SHRI GIRISH AGRAWAL
आयकर अऩीऱीय अधधकरण, कटक न्यायऩीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK (THROUGH VIRTUAL HEARING) BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER आयकर अऩीऱ सं/ITA No.288/CTK/2023 (ननधाारण वषा / Assessment Year : 2007-2008) Kedia Lifespace Developers Pvt. Ltd Vs DCIT, Sambalpur Mangalam Tower, 3rd Floor, Sarbahal Road, Jharsuguda PAN No. :AACCJ 1155 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : None राजस्व की ओर से /Revenue by : Dr. Abani Kanta Nayak, CIT-DR सुनवाई की तारीख / Date of Hearing : 30/11/2023 घोषणा की तारीख/Date of Pronouncement : 30/11/2023 आदेश / O R D E R Per Bench : This is an appeal filed by the assessee against the order of the ld CIT(A)-2, Bhubaneswar, dated 30.05.2023, passed in I.T.Appeal No.Sambalpur/10066/2015-16, for the assessment year 2007-2008. 2. None represented on behalf of the assessee. Shri Charan Dass, Sr. DR appeared on behalf of the revenue. 3. An adjournment application received by the Registry on 28.11.2023, was filed by the ld. AR of the assessee, thereby seeking 30 days time as the Chartered Accountant of the assessee is pre-occupied in some social function. However, looking to the facts of the case as also the impugned order is an ex-parte order on account of non-appearance of the assessee before the ld. CIT(A), we reject the adjournment application and proceed to dispose of the appeal on merits.
2 ITA No.288/CTK/2023
Facts emanate from the assessment order are that there was a search on the premises of M/s Jharsuguda Construction Pvt. Ltd. on 24.05.2012. M/s Jharsuguda Constructions Pvt. Ltd. was the earlier name of impugned assessee. Consequent to search for the assessment year 2007-2008, notice u/s.153A of the Act came to be issued and the assessment came to be completed on 31.03.2015, wherein the AO has invoked the provisions of Section 50C of the Act for the purpose of making the addition in respect of the property which has been sold during the assessment year 2007-2008. 5. Ld. DR vehemently supported the orders of the lower authorities. 6. We have considered the submission of ld.CIT-DR. A perusal of the assessment order clearly shows that the addition as made in the assessment is by invoking the provisions of Section 50C of the Act. There is no incriminating material referred to in the assessment order, which has been found in the course of search. This being so, respectfully following the decision of the Hon’ble Supreme Court in the case of Abhisar Buildwell (P.) Ltd., reported in [2023] 149 taxmann.com 399(SC)/[2023] 454 ITR 212(SC), the assessment order passed u/s.153A r.w.s.143(3) of the Act for the assessment year 2007-2008 in the case of the assessee, stands quashed.
3 ITA No.288/CTK/2023 7. In the result, appeal of the assessee is allowed. Order dictated and pronounced in the open court on 30/11/2023. Sd/- Sd/- (GIRISH AGRAWAL) (GEORGE MATHAN) ऱेखा सदस्य/ ACCOUNTANT MEMBER न्यानयक सदस्य / JUDICIAL MEMBER कटक Cuttack; ददनाांक Dated 30/11/2023 Prakash Kumar Mishra, Sr.P.S. आदेश की प्रनतलऱपऩ अग्रेपषत/Copy of the Order forwarded to : अऩीऱाथी / The Appellant- 1. Kedia Lifespace Developers Pvt. Ltd Mangalam Tower, 3rd Floor, Sarbahal Road, Jharsuguda प्रत्यथी / The Respondent- 2. DCIT, Sambalpur आयकर आयुक्त(अऩीऱ) / The CIT(A), 3. आयकर आयुक्त / CIT 4. ववभागीय प्रतततनधध, आयकर अऩीऱीय अधधकरण, कटक / DR, 5. ITAT, Cuttack गार्ड पाईऱ / Guard file. 6. सत्यावऩत प्रतत //True Copy// आदेशानुसार/ BY ORDER,
(Assistant Registrar) आयकर अऩीऱीय अधधकरण, कटक/ITAT, Cuttack
