SHRI JAYMIN UTTAMLAL SOLANKI,VADODARA vs. THE INCOME TAX OFFICER, WARD-4(1)(1), BARODA

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ITA 2910/AHD/2015Status: DisposedITAT Ahmedabad24 May 2019AY 2012-132 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal admitted the legal plea, which had not been examined by the lower authorities. The matter was remitted to the Assessing Officer for de novo adjudication.

What were the facts?

The assessee challenged the disallowance of a deduction under Section 54 of the Income Tax Act for the assessment year 2012-13. A new legal plea was raised regarding the timing of the addition.

What were the issues?

Whether the addition could be made in the year of transaction or only after the completion of three years from the date of transaction. The timing of the addition for the deduction claimed.

Which sections of the Income-tax Act were involved?

Section 54,Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, AHMEDABAD

Before: Shri Pramod Kumar]

1.

This appeal challenges correctness of learned CIT(A)’s order dated 24.02.2015, in the matter of assessment under section 143(3) r.w.s. 147 of the Income-tax Act, 1961, for the assessment year 2012-13.

2.

Grievances of the assessee, as pressed before us, is against learned CIT(A)’s upholding the disallowance of deduction of Rs.13,42,259/- under section 54 of the Act.

3.

One of the issues that learned counsel for the assessee has raised before the Tribunal is that the year before us is the year in which transaction has taken place whereas the addition could at best be made in the year in which three years from the date of transaction in question are completed. He also fairly admits that this issue was not raised before any of the authorities below.

4.

Having heard the rival contentions and having perused the material on record, I deem it fit and proper to admit this legal plea but, as it has not been examined by the authorities below, remit the matter to the file of the Assessing Officer for adjudication de novo by way of a speaking order. As I am remitting the matter to the

SMC-ITA No. 2910/Ahd/2015 Jaymin Uttamlal Solanki Vs. ITO Assessment year: 2012-13 Page 2 of 2 file of the Assessing Officer for fresh adjudication on the above plea, all other issues are left open too. Let the matter be examined, on merits – if necessary, afresh. Ordered, accordingly.

5.

In the result, appeal is allowed for statistical purposes. Pronounced in the open court today on the 24th May, 2019.

Sd/-

Pramod Kumar (Vice President) Ahmedabad, the 24th day of May, 2019 **bt Copies to: (1) The appellant (2) The respondent (3) Commissioner (4) CIT(A) (5) Departmental Representative (6) Guard File By order TRUE COPY Assistant Registrar Income Tax Appellate Tribunal Ahmedabad benches, Ahmedabad

1.

Date of dictation: .....order prepared as per 2 pages manuscripts of Hon’ble VP-attached.......... 2. Date on which the typed draft is placed before the Dictating Member: .... 24.05.2019..... 3. Date on which the approved draft comes to the Sr. P.S./P.S.: .... 24.05.2019...... . 4. Date on which the fair order is placed before the Dictating Member for Pronouncement:… 24.05.2019... 5. Date on which the file goes to the Bench Clerk : ............ 6. Date on which the file goes to the Head Clerk : ……………………………. 7. The date on which the file goes to the Assistant Registrar for signature on the order: …… 8. Date of Despatch of the Order: ………………......

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