PURAN CHAND HUF,HISAR vs. ITO WARD - 5, HISAR
Before: SHRI SATBEER SINGH GODARA & SMT. ANNAPURNA GUPTAAssessment Year: 2016-17 Puran Chand HUF, H. No. 1208/18, Near Bagri Bhitar Mohalla Sanian, Hisar, Haryana Vs. Income Tax Officer, Ward-5, Hisar PAN: AAIHP4914L (Appellant)
PER SATBEER SINGH GODARA, JM
This assessee’s appeal for assessment year 2016-17, arises against the Commissioner of Income Tax (Appeals)/National
Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2020-21/1031080628(1), dated
28.03.2021 involving proceedings under section 154of the Income- tax Act, 1961 (hereinafter referred to as ‘the Act’).
2. Heard both the parties. Case file perused.
Assessee by Sh. Ashok Goyal, CA
Sh. Yash Gilhotra, Adv.
Department by Sh. Sunil Yadav, CIT(DR)
Date of hearing
26.03.2025
Date of pronouncement
28.03.2025
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It emerges during the course of hearing that there hardly seems any need for us to delve with the relevant factual matrix at length. This is for the precise reason that we are dealing with the assessee’s instant section 154 rectification proceedings initiated at its behest thereby claiming its interest income received from HUDA on account of compulsory acquisition of claim as not assessable under the provisions of the Act. 4. We are of the considered view in this factual backdrop that given the fact that hon’ble apex court in T. S. Balaram, ITO v Volkart Bros (1971) 82 ITR 40 (SC) has settled the contours of such a rectification process as not to deal with detailed roving inquiries, both the learned lower authorities’ respective findings rejecting the assessee’s application could hardly be held as not sustainable in law. We accordingly reject the assessee’s sole substantive grievance in very terms, subject to a rider that it shall indeed be at liberty to file a fresh appeal under section 246A of the Act, as per law before the CIT(A) and delay caused therein, if any as on date, shall be deemed to have been condoned.
All other assessee’s pleadings on merits stand rendered academic at this stage.
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This assessee’s appeal is dismissed in above terms subject to all just exceptions. Order pronounced in the open court on 28th March, 2025 (ANNAPURNA GUPTA) JUDICIAL MEMBER
Dated: 28th March, 2025. RK/-