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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR
Before: DR. M. L. MEENA & SH. ANIKESH BANERJEE
The present appeal has been filed by the Revenue and Cross objection by the Assessee against the order of the Ld. CIT(A)-5, Ludhiana dt. 21/04/2021 in repect of the Assessment Year 2016-17.
At the outset, the ld. Counsel for the respondent appellant submitted that the issue raised in the appeal of the department is a covered matter, on parity of facts by the decision of the Coordinate ITAT Amritsar Bench, Amritsar by dated 11/04/2023 passed in the case of “DCIT, Central Circle-1, Jalandhar Vs. Sh. Jatinder Singh Bedi” whereby the Tribunal dismissed the department appeals vide para 7 and 8 as under:
“7. We heard the rival submission& perused the documents available on record. The entire addition was based on the documents which has no evidential value. The assessee primarily decided to purchase the property but later on changed the decision and has taken the property on lease. Copy of the lease deed dated 23.09.2015 is annexed in APB page nos. 13 to 29. The lease rent was paid and the TDS was deducted at source. Only 2 kanal property was purchased in later from the party by the assessee. The copy of sale deed dated 21.05.2018 is annexed in APB pages 39 to 44. The copy of the financial statement duly filed related to Baba Shrichand Educational Society Co 5/Asr/2022 Assessment Year: 2016-17 which is depicted that the amount debited against lease from the M/s Amar Singh Educational Charitable Trust, represented by Mr Gurdeep Singh. Copy of the balance sheetof society, Baba Shrichand Educational Society is annexed in APB pages 51 to 52. The ld. AO had not able to correlate any such payments which are mentioned in the assessment orders. The property is still in the possession of M/s Amar Singh Educational Charitable Trust.
We find that there is no infirmity in the order of the ld. CIT(A), so, the ground of revenue is dismissed. In the result, the grounds of revenue 1 to 5 are dismissed. Ground 6 is general in nature. ITA 89/Asr/2020 is mutatis mutandis applicable to and follow accordingly.”
The Ld. CIT(DR) for the appellant revenue, has agreed to the contention of the Ld. Counsel that this is a covered matter by the Coordinate Bench Amritsar (Supra).
Having heard the rival contention and very carefully considering the impugned order, we found that the assessee primarily decided to sale the property as per unsigned agreement to sale (APB, Pgs.1 to 7) but later on changed the decision and has given the property on lease rent to Baba Sri Chand Education Society and received rental income with TDS deduction which is being shown in the hands of the defendant Trust. The Ld. CIT(DR) has been in agreement with the contention of the defendant Ld. Counsel
Co 5/Asr/2022 Assessment Year: 2016-17 that the department appeal is not maintainable as being covered matter on parity of facts by the Coordinated Bench (Supra). According, the department appeal is dismissed as covered matter.
Since, the department appeal was heard and dismissed as covered the assesse has withdrawn its Cross objection on the issue of validity of 153C of the Act. Thus, the Cross objection of the assessee is dismissed as withdrawn.
In the result, the appeal of the department and Cross objection of the Assessee are dismissed.
Order pronounced in the open court on 21/06/2023