SAVITA GOYAL,DELHI vs. ITO, DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2017-18, arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2024-25/1064758245(1) dated
09.05.2024, in proceedings u/s 147 of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
Coming to the assessee’s sole substantive ground challenging the learned lower authorities’ action treating her investment in immovable property of Rs.25,00,000/- as unexplained u/s 69/69A r.w.s. 115BBE of the Act, the clinching fact which emerges from the case file is that she had infact executed the corresponding transaction on 26/28.03.2016 Savita Goyal
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followed by it’s registration on 06.04.2016, and, in this factual backdrop, learned lower authorities have assessed her going by the date of registration than the actual date of investment, in very terms.
That being the case, case law Beena Shammi Choudhari vs. ITO (2022) 216 TTJ 888 (Pune) has settled the issue in assessee’s favour and against the department thereby holding that it is not in the year of registration but actual transfer year in which the Revenue could assess the corresponding capital gains.
I adopt the foregoing detailed discussion mutatis mutandis to conclude that the learned lower authorities herein have erred in law and on fact in assessing the assessee’s for her investment in immovable property qua the sale deed registered on 06.04.2016. The impugned addition is accordingly directed to be deleted therefore.
This assessee’s appeal is allowed. Order Pronounced in the Open Court on 07/01/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 07/01/2025
*Subodh Kumar, Sr. PS*