JAGPAL SHARMA,GHAZIABAD UP vs. PCIT, GHAZIABAD UP

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ITA 4588/DEL/2019Status: DisposedITAT Delhi29 April 2025AY 2009-10Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found that the Principal Commissioner correctly exercised jurisdiction under Section 263. The assessee's claim for deduction under Section 54F, which included investment in a property owned by his son, was considered erroneous and prejudicial to the revenue.

What were the facts?

The assessee appealed against an order passed by the Principal Commissioner of Income-tax under Section 263, revising the assessment order. The revision pertained to the assessee's claim for deduction under Section 54F.

What were the issues?

Whether the Principal Commissioner correctly invoked Section 263 to revise the assessment order, and if the assessee was eligible for deduction under Section 54F for investment in a property owned by his son.

Which sections of the Income-tax Act were involved?

Section 263,Section 54F,Section 147,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES: C : NEW DELHI

Before: SHRI S. RIFAUR RAHMAN & SHRI ANUBHAV SHARMA

For Respondent: Shri Kailash Dan Ratnoo, CIT-DR
Hearing: 29.04.2025Pronounced: 29.04.2025

Assessment Year: 2009-10 Jagpal Sharma, Vs PCIT, D-17, Third Floor, Ghaziabad. RDC, Raj Nagar, Ghaziabad – 201 204, Uttar Pradesh. PAN: DALPS8787N (Appellant) (Respondent) Assessee by : None Revenue by : Shri Kailash Dan Ratnoo, CIT-DR Date of Hearing : 29.04.2025 Date of Pronouncement : 29.04.2025 ORDER

PER ANUBHAV SHARMA, JM:

1.

This appeal is preferred by the Assessee against the order dated 27.03.2019 of the Principal Commissioner of Income-tax, Ghaziabad (hereinafter referred to as ‘the Ld. PCIT’, for short), vide Despatch No.4928, u/s 263 of the Income Tax Act, 1961 (hereinafter referred as ‘the Act’) revising the assessment order dated 30.06.2016 passed by the ITO, Ward 1(3), Ghaziabad, (hereinafter referred to as the Ld. AO) u/s 147/143(3) of the Act.

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