REBA ROY,COOCHBEHAR vs. A.O. WARD 2(1), COOCHBEHAR

आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री संजय गगग, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SRI SANJAY GARG, JUDICIAL MEMBER & SRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 721/KOL/2024 Assessment Year: 2020-21 Reba Roy….….………..…………………………………………………….Appellant [PAN: ACOPR 4109 F] Vs. AO, Ward-2(1), Coochbehar...................................................Respondent Appearances: Assessee represented by: Amit Agarwal, Adv. Department represented by: Arup Chatterjee, CIT. Date of concluding the hearing : July 2nd, 2024 Date of pronouncing the order : September 30th, 2024 ORDER Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi [hereinafter referred to as ld. ‘CIT(A)’] passed u/s 250 of the Income Tax Act, 1961 (hereinafter the ‘Act’) dated 20.02.2024 for the AY 2020-21. 2. The sole issue involved in this appeal is relating to the validity of addition of Rs. 72,35,643/- made by the Assessing Officer (hereinafter referred to as ld. 'AO') u/s 56(2)(x) of the Act on the alleged ground that the

I.T.A. No.: 721/KOL/2024 Assessment Year: 2020-21 Reba Roy. assessee had purchased various immovable properties for a value which is less than the stamp duty value. 2.1. At the outset, ld. Counsel for the assessee has invited our attention to the registered Gift Deed to submit that the alleged transaction was in fact the gift of immovable property by the mother of the assessee to the assessee vide registered Gift Deed No. I-3940 dated 15.05.2019. Since the aforesaid transaction was by the Class-I relative of the assessee i.e. mother of the assessee to the assessee, therefore, the provisions of Section 56(2)(x) of the Act are not attracted in this case, hence, the impugned addition is not sustainable. Accordingly, the same is ordered to be deleted. 3. In the result, appeal of the assessee stands allowed. Order pronounced in the open Court on 30th September, 2024. Sd/- Sd/- [Rakesh Mishra] [Sanjay Garg] Accountant Member Judicial Member Dated: 30.09.2024 Bidhan (P.S.) Copy of the order forwarded to: 1. Reba Roy, M/s. Roy & Co., Biswa Singha Road (North), Coochbehar, West Bengal, 736101. 2. AO, Ward-2(1), Coochbehar. 3. CIT(A)-NFAC, Delhi. 4. CIT- 5. CIT(DR), Kolkata Benches, Kolkata. //True copy // By order

Assistant Registrar ITAT, Kolkata Benches Kolkata

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