SMT. INDUMATIBEN G. PARMAR,RAJKOT vs. INCOME TAX OFFICER, WARD-1(1)(1), RAJKOT

ITA 39/RJT/2018Status: DisposedITAT Rajkot08 July 2019AY 2007-084 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the action of the Assessing Officer and the Commissioner of Income Tax (Appeals) in applying Section 50C and rejecting the claim for the cost of improvements. The assessee's grounds of appeal were found to be without merit.

What were the facts?

The assessee challenged the reopening of assessment and additions made under Section 50C of the Income Tax Act, 1961, concerning the sale of property. The Assessing Officer adopted the value as per the District Valuation Officer's report, and the assessee failed to provide evidence for cost of improvements.

What were the issues?

Whether the reopening of assessment was valid and whether the addition under Section 50C based on DVO's report and the rejection of cost of improvements were justified.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3),Section 148,Section 50C,Section 234A,Section 234B,Section 234C,Section 274,Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “RAJKOT” BENCH, RAJKOT

Before: SHRI PRADIP KUMAR KEDIA & SHRI MAHAVIR PRASAD

For Appellant: Mr. Deepak M. Rindani, A.R, Mr. Praveen Verma, Sr. D.R

PER PRADIP KUMAR KEDIA - AM:

The captioned appeal has been filed at the instance of the assessee against the order of the Commissioner of Income Tax(Appeals)-1, Rajkot (‘CIT(A)’ in short), dated 22.12.2017 arising in the assessment order dated 27.03.2015 passed by the Assessing Officer (AO) under s. 143(3) r.w.s. 148 of the Income Tax Act, 1961 (the Act) concerning AY 2007-08. 2. The grounds of appeal raised by assessee reads as under:

“1. The learned Commissioner of Income Tax (Appeals) - 1, Rajkot has erred in confir

The order continues below.

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