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Income Tax Appellate Tribunal, HYDERABAD BENCHES “B” : HYDERABAD
Before: SHRI S.S.GODARA & SHRI LAXMI PRASAD SAHU
BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year: 2009-10 Sri Satyanarayana Goud Income Tax Officer, Malakpeta, Vs Ward-4(3), HYDERABAD HYDERABAD [PAN: AGGPM4997E] (Appellant) (Respondent) For Assessee : NONE For Revenue : Shri Rohit Mujumdar, DR Date of Hearing : 04-01-2021 Date of Pronouncement : 06-01-2021 O R D E R PER BENCH :
This assessee’s appeal for AY.2009-10 arises from the CIT(A)-1, Hyderabad’s order dated 18-09-2017 passed in case No.0424/CIT(A)-1/Hyd/2016-17/2017-18, in proceedings u/s.144 r.w.s.147 of the Income Tax Act, 1961 [in short, ‘the Act’]. Case called twice. None appeared for assessee’s behest. Learned departmental representative is accordingly proceeded ex-parte.
The assessee’s sole substantive grievance pleaded in the instant appeal challenge correctness of both the lower authorities’ action invoking Section 50C of the Act thereby adding the alleged long term capital gain of Rs.84,68,886/- on account of the transfer of the capital asset in the course of assessment upheld in the CIT(A)’s lower appellate order.
Learned departmental representative fails to rebut the clinching fact at the outset itself that neither of the lower authorities had made the statutory reference to the DVO u/s.50C(2) of the Act. He vehemently contended that no such request came from the taxpayer’s side. We find no merit in the Revenue’s instant stand. Hon'ble Kolkata high court’s decision in Sunil Kumar Agarwal Vs. CIT (2014) [372 ITR 83] (Cal) holds that such a reference is mandatory even if the assessee concerned does not raise any such prayer. We therefore deem it appropriate to restore the instant sole issue back to the Assessing Officer for his afresh adjudication as per law. The assessee shall be at liberty to raise all factual as well as legal pleas in the consequential proceedings.
This assessee’s appeal is treated as allowed for statistical purposes in above terms.
Order pronounced in the open court on 6th January, 2021