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Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI
Before: SRI MAHAVIR SINGH
O R D E R भहावीय स िंह, उऩाध्मक्ष के द्वाया / PER MAHAVIR SINGH, VP: This appeal of the assessee is arising out of order of the Commissioner of Income Tax (Appeals)]-36, Mumbai [in short CIT(A)], in appeal No. CIT(A)-36/IT-222/ITO-24(3)(1)/2017-18 vide dated 28.06.2019. The Assessment was framed by the Income Tax Officer, Ward-24(3)(1) Mumbai (in short ITO/ AO) for the A.Y. 2010-11 vide order dated 15.12.2017 under section 143(3) read with section 147 of the Income-tax Act, 1961 (hereinafter ‘the Act’).
None appeared on behalf of the assessee. I have heard the learned Sr. Departmental Representative and gone through the facts and circumstances of the case. During the course of 2 Neelam Mukesh Kumar Patel; AY 10 -11 hearing the Registry has placed a letter dated 11th August, 2021, the context of the letter read as under:-
“1. As assessment order date 15.12.2017 was passed under section 143(3) by the Ld. Income Tax Officer-24(3)91), Mumbai completing the assessment at ₹9,46,230/- income. However, the said assessment order was cancelled by the Hon’ble CIT(A)-36, Mumbai vide the impugned order dated 28.06.2019 partly allowing the appeal with the direction to the Ld. Assessing Officer to incorporate the finding of DVO under section 50 in arriving at correct figure of the value of the property sold and the Tax implication thereon.
2. pursuant to the CIT(A) order dated 28.06.2019, the ld. Asst. Valuation officer-I had passed the Valuation Report dated 11.09.2020. The copy of said Valuation Report is Annexed hereto as Annexure-1. Accordingly, the Ld. Assessing Officer passed the Order dated 26.02.2021 under section 154 of the Income Tax Act 1961 by incorporating the fair market value of the property proposed by the ld. Asst. Valuation Officer-1 and re- computed income to ₹2,66,640/- and issued the tax demand of ₹11,688/-. The copy of Order under section 154 passed by the Ld. Income Tax Officer-24(3)(1)- Mumbai is annexued thereto as Annexure-II.
In order to buy peace, the Appellate decided to pay the aforesaid tax demand and acordngly appeallant had paid the tax demand of ₹14,668/- vide challan dated 31.03.3021. The copy of the said tax paid challan is attached thereto as AnnexureIII.