ANAND KUMAR GUPTA,HAZARINBAG vs. ITO WARD-2(1), HAZARIBAGH

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ITA 295/RAN/2017Status: DisposedITAT Ranchi27 November 20182 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal as withdrawn. The issue concerned the consideration of capital gains in the hands of HUF instead of the individual.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order for AY 2013-14. The assessee's representative filed a petition to withdraw the appeal, stating the grievance was redressed.

What were the issues?

Whether capital gains should be taxed in the hands of HUF or the individual. The assessee sought to withdraw the appeal as the issue was resolved in their favor in other assessment years.

Which sections of the Income-tax Act were involved?

Section 150

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH, RANCHI

Before: S/SHRI N.S SAINI & PAVAN KUMAR GADALE

For Appellant: Shri Denesh Chandra Agarwal, Adv
For Respondent: Shri A.K.Mohanty, JCIT
Hearing: 27/11Pronounced: 27/11

IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI BENCH, RANCHI

BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER

ITA No.295/Ran/2017 Assessment Year :2013-14

Anand Kumar Gupta, Vs. ITO, Ward 2(1), Aayakar Suresh Colony, Hazaribag Bhawan, Hazaribag PAN/GIR No. (Appellant) .. ( Respondent)

Assessee by : Shri Denesh Chandra Agarwal, Adv Revenue by : Shri A.K.Mohanty, JCIT

Date of Hearing : 27/11/ 2018 Date of Pronouncement : 27/11/ 2018

O R D E R Per N.S.Saini, AM This is an appeal filed by the assessee against the order of

the CIT(A), Hazaribag, dated 27.9.2017 for the assessment year

2013-14.

2.

At the time of hearing, ld Authorised Representative of the

assesse filed a petition dated 27.11.2018 stating as under:

‘ In this case the Hon’ble ITAT had dismissed the appeal filed by the department on 13.8.18. The points taken in the departmental appeal was ‘that the ld CIT(A) income realtes to Anand Kumar Gupta, HUF seems to be true, the same may be verified by the AO unjustified’. The ld CIT(A) Hazaaribag pm the basis of dismissal of appeal by the Hon’ble ITAT has directed the AO to consider the sale proceeds of land in the hands of HUF as per provisions of section 150 in assessment

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ITA No. 295/R an/ 2017 Asse ssment Year :20 13- 14 :

years 2012-13 and 2014-15. No second appeal has been preferred by the department in the assessment years 2012- 13 and 2014-15. In this appeal for the assessment year 2013-14 the main issue was regarding consideration of capital gains in the hands of HUF instead of individual. Since the grievance has been redressed the petitioner would like to withdraw this appeal.’ 3. In view of above, we dismiss the appeal of the assesse as

withdrawn.

4.

In the result, appeal of the assesse is dismissed.

Order pronounced on 27/11/2018. Sd/- sd/- (Pavan Kumar Gadale) (N.S Saini) JUDICIALMEMBER ACCOUNTANT MEMBER Ranchi; Dated 27/11/2018 B.K.Parida, SPS Copy of the Order forwarded to : 1. The Appellant : Anand Kumar Gupta, Suresh Colony, Hazaribag 2. The Respondent. ITO, Ward 2(1), Aayakar Bhawan, Hazaribag 3. The CIT(A)- Hazaribag 4. Pr.CIT- Hazaribag 5. DR, ITAT, Ranchi By order 6. Guard file. //True Copy// Sr. Pvt.Secretary, ITAT, Ranchi on tour

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