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Income Tax Appellate Tribunal, PUNE BENCHES “A” :: PUNE
Before: SHRI S.S.GODARA & SHRI G.D.PADMAHSHALI
आयकर अपीलीय अिधकरण “ए” �ायपीठ पुणे म�। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “A” :: PUNE
BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI G.D.PADMAHSHALI, ACCOUNTANT MEMBER
आयकर अपीलसं. / ITA No.320/PUN/2018 िनधा�रणवष� / Assessment Year : 2008-09 Bharat Eknath Kanpile, The DCIT, Circle-8, Pune. C/o.Success Mall, Pune Nashik Vs Highway, Waki, Tal. Khed, . Dist. Pune – 410501. PAN: ABFPK 3450 N Appellant/ Assessee Respondent /Revenue Assessee by Smt. Deepa Khare – AR Revenue by Shri Ramnath P Murkunde – DR Date of hearing 01/12/2022 Date of pronouncement 30/12/2022 आदेश/ ORDER Per S.S.Godara, JM: This assessee’s appeal for Assessment Year 2008-09 is directed against the Commissioner of Income Tax(Appeal)-6, Pune’s order in case no.PN/CIT(A)-V/DCIT Cir-8/314/2014-15 dated 31.10.2017, in proceedings u/s.143(3) r.w.s 147 of the Income Tax Act, 1961 [in short “the Act”].
Heard both the parties. Case file perused.
The assessee pleads the following substantive grounds in the instant appeal:
ITA No.320/PUN/2018 for A.Y. 2008-09 Bharat Eknath Kanpile [A]
“1. On the facts and circumstances of the case, the reassessment proceedings u/s 147 being initiated in absence of material showing escapement of income in the hands of the appellant is void and may kindly be cancelled.
The learned CIT(A) erred in law and on facts in confirming addition of Rs.16,01,000/- in respect of Gat no.357/18 as cash consideration received purely on the basis of statement of Shri V K Sharma and without appreciating the facts and evidences led in support of the appellant.
The learned CIT(A) erred in law and on facts in confirming addition of Rs.34,51,357/- u/s 50C since there was some mistake committed by the stamp duty valuation authorities and hence, the amount of Rs 5 lacs offered by the The learned CIT(A) erred in law and on facts in adopting the stamp duty valuation without referring the valuation to the valuation officer.
The learned CIT(A) erred in law and on facts in adopting the stamp duty valuation without referring the valuation to the valuation officer.
The appellant craves leave to add, alter, modify or substitute any ground of appeal at the time of hearing.”
Learned counsel has fair enough in not pressing for the assessee’s 1st and 5th substantive grounds. Rejected accordingly.
Next come the assessee’s 2nd to 4th substantive grounds seeking 4. to reverse both the lower authorities action adding the alleged on- money receipts of Rs.16.01 lakhs followed by section 50C addition
ITA No.320/PUN/2018 for A.Y. 2008-09 Bharat Eknath Kanpile [A]
of Rs.34,51,357/-; respectively. Suffice to say, we note with the able assistance of both the learned representatives that no reference under section 50C had been made to the DVO either in the course of assessment or in the lower appellate proceedings. Case law Sunil KUma Agrawal Vs. CIT (2015) 372 ITR 83 (Cal) holds such a reference to be mandatory even if the concerned assessee fails to raise his objections before the lower authorities.
We thus restore the assessee’s 3rd and 4th substantive grounds 5. back to the Assessing Officer for his appropriate adjudication as per law in very terms. We stay back on assessee’s on-money addition issue and are of the opinion that the same must also follow the suit once the Assessing Office is yet to finalise the correct amount of capital gain in question. We further make it clear that it shall be the assessee’s risk and responsibly only to produce all the corresponding sale agreement and evidence before the Assessing Officer so as to arrive at the correct sale price of the capital asset(s) in issue. It is further clarified that in case in on-money addition is finally made in assessee’s hands, the same shall be given credit in the section 50C proceedings in the final computation. These 2nd to 4th substantive grounds raised at the assessee’s behest are accepted for statistical purpose therefore.
ITA No.320/PUN/2018 for A.Y. 2008-09 Bharat Eknath Kanpile [A]
This assessee’s appeal is allowed for statistical purpose in above terms. Order pronounced in the open Court on 30th December, 2022.
Sd/- Sd/- (G.D.PADMAHSHALI) (S.S.GODARA) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; �दनांक / Dated : 30th Dec, 2022/ SGR* आदेशक��ितिलिपअ�ेिषत / Copy of the Order forwarded to : अपीलाथ� / The Appellant. 1. ��यथ� / The Respondent. 2. 3. The CIT(A), concerned. 4. The Pr. CIT, concerned. 5. िवभागीय�ितिनिध, आयकर अपीलीय अिधकरण, “ए” ब�च, पुणे / DR, ITAT, “A” Bench, Pune. गाड�फ़ाइल / Guard File. 6. आदेशानुसार / BY ORDER, // TRUE COPY // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे/ITAT, Pune.