LEELABAI DAGDU SHINDE,,AURANGABAD vs. INCOME-TAX OFFICER, WARD - 1(5),, AURANGABAD

आदेश / ORDER

PER R.S.SYAL, VP :

These three appeals by different but connected assessees

relate to the assessment year 2011-12. Since common issues are

raised in these appeals, I am, therefore, proceeding to dispose

them off by this consolidated order for the sake of convenience.

AR explained the reasons for the delay in filing the appeals, with

which I am satisfied. As such, the delay is condoned and the

appeals are admitted for disposal.

Shinde (ITA No.1158/PUN/2018 ) are that the assessee along

with other two co-owners, who are also appellants in the instant

batch of appeals, sold certain piece of land of 2 Acres for a

consideration of Rs.12.00 lakh. No capital gain was offered for

taxation. The valuation for the levy of stamp duty was found at

Rs.1.43 crore. Notice u/s.148 was issued. In the assessment

completed u/s.144 r.w.147, the Assessing Officer (AO) adopted

stamp valuation u/s.50C as full value of consideration for the purpose of calculation of capital gain. The assessee’s 1/3rd share

3 ITA Nos.1158 to 1160/PUN/2018 Shinde group

in the total stamp value at Rs.1.43 crore was arrived at

Rs.47,66,666/-. Such amount was added as long term capital

gain. The appeal of the assessee came to be dismissed by the ld.

CIT(A).

owners, are similar in asmuchas same amounts have been added

in their hands as well. All the three assesses are in appeal before

the Tribunal.

material on record. The ld. AR submitted that though the

assessees sold the above stated piece of land for a sum of

Rs.12.00 lakh, but no amount was, in fact, received as the

cheques issued were dishonoured. The ld. AR further submitted

that the assessee filed a Civil Suit in the month of February,

2018 against the buyers who purchased the land and cheques

issued by them for Rs.12.00 lakh, were bounced. The ld. AR

further submitted that the Chairman, Housing Pingri Society

filed a Civil Suit against the buyers of the land as well as the

assessees in September 2011 claiming that the plot of land,

subject matter of the extant sale, stood already sold to it way

back in 1968 and hence, there could be no further transfer of

4 ITA Nos.1158 to 1160/PUN/2018 Shinde group

such land by the assessees. My attention was drawn towards a

copy of the civil suit filed in this respect. The ld. AR submitted

that both the above civil suits are still pending in the Civil Courts

and are likely to be decided shortly. He stated that not only the

recovery of sale consideration of Rs.12.00 lakh has been

jeopardised but even the title of the property sold is also not

clear. The ld. AR submitted that it would be in the fairness of

the things if the impugned orders are set-aside and the matter is

remitted to the AO for deciding the issue afresh in the light of

such circumstances as have been narrated above. No serious

objection was taken by the ld. DR. Concurring with the

submissions advanced on behalf of the assessees, I set-aside the

impugned orders and remit the matter to the file of AO for

deciding this issue afresh as per law after allowing a reasonable

opportunity of hearing to the assessees.

Sd/- (R.S.SYAL) उपा�य�/ VICE PRESIDENT उपा�य� उपा�य� उपा�य� पुणे Pune; �दनांक Dated : 20th March, 2019 सतीश

5 ITA Nos.1158 to 1160/PUN/2018 Shinde group

आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत / Copy of the Order is forwarded to : क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत आदेश आदेश आदेश अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. आयकर आयु�(अपील) / 3. The CIT (Appeals)-1, Aurangabad 4. The Pr. CIT-1, Aurangabad िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे “SMC” / 5. DR ‘SMC’, ITAT, Pune; गाड� फाईल / Guard file. 6. // True copy // आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार

// True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 20-03-2019 Sr.PS 2. Draft placed before author 20-03-2019 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *