SMT. PREMLATA JAIN,INDORE vs. ITO 5(1), INDORE, INDORE

IN THE INCOME TAX APPELLATE TRIBUNAL INDORE SMC BENCH, INDORE

BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER

ITA No. 595/Ind/2018 Assessment Year: 2014-15

Smt. Premlata Jain, 89, Ravindra Nagar, New Palasia Indore PAN – ADOPJ8776B :: Appellant

Vs

ITO, 5(1), Indore :: Respondent

Appellant by Shri Ateek Bansal, CA Revenue by Shri R.S. Ambedkar, Sr. DR Date of hearing 14.11.2018 Date of pronouncement 16 .11.2018

O R D E R This appeal is filed by the Assessee against the order of Commissioner of Income Tax (Appeals)-II, Indore dated 12.03.2018 pertaining to A.Y. 2014-15. The assessee has raised

following grounds of appeal:

“1. The order of the Ld. ITO was confirmed by the CIT(A) where he erred legally and on facts also by confirming the addition of transfer expenses of Rs.2,34,650/- in capital gain despite the fact that deduction u/s 54 was available.”

SMC – Smt. Premlata Jain 2 ITA No.595 of 2018

picked up for scrutiny assessment and the assessment u/s

143(3) of the Income Tax Act 1961(hereinafter called as ‘the Act’)

was framed vide order dated 01.09.2016 while framing the

assessment, the assessing officer disallowed the transfer

expenses of Rs.2,34,650/- as claimed by the assessee.

the Ld. CIT(A) who after considering the submissions partly

allowed the appeal by giving direction to the assessing officer to

consider the expenses in computing the income of capital gain.

made in the written submissions. Ld. Counsel for the assessee

submitted that no capital gain would be payable by the assessee,

if the deduction u/s 54 of the Act is allowed. He submitted that

before the assessing officer also this ground was taken. He has

drawn my attention to paper book pages 23 & 24. He, therefore,

submitted that if the benefit of section 54 of the Act is given in

that event no capital gain would be payable by the assessee.

and supported the orders of the authorities below.

SMC – Smt. Premlata Jain 3 ITA No.595 of 2018

record and gone through orders of authorities below. From the

records, it is noticed that both authorities below have not

adverted on the claim of section 54 of the Act, therefore,

considering the totality of the fact the impugned order is set aside

and issue relating to claim u/s 54 of the assessee is to restore to

the file of assessing officer to reconsider the same and decide in

accordance with law. Ground raised by the assessee is allowed

for statistical purposes.

purposed.

Order was pronounced in the open court on 16.11.2018.

Sd/- (KUL BHARAT) JUDICIAL MEMBER Dated : 16.11.2018 Patel Copy to: Appellant/Respondent/Pr.CIT(A)/Pr.CIT/DR, Indore Assistant Registrar, Indore