SMT ANITA LODHA, Jaipur v. ITO, Jaipur

ITA 181/JPR/2011 | 2005-2006
Pronouncement Date: 18-11-2011 | Result: Allowed

Appeal Details

RSA Number 18123114 RSA 2011
Bench Jaipur
Appeal Number ITA 181/JPR/2011
Duration Of Justice 8 month(s) 18 day(s)
Appellant SMT ANITA LODHA, Jaipur
Respondent ITO, Jaipur
Appeal Type Income Tax Appeal
Pronouncement Date 18-11-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted SMC
Tribunal Order Date 18-11-2011
Date Of Final Hearing 08-11-2011
Next Hearing Date 08-11-2011
Assessment Year 2005-2006
Appeal Filed On 01-03-2011
Judgment Text
1 ITA 181-11 IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH SMC JAIPUR BEFORE SHRI R.K. GUPTA JUDICIAL MEMBER ITA NO. 181/JP/2011 ASSTT. YEAR : 2005-06. SMT. ANITA LODHA VS. THE INCOME-TAX OFFICER C/O M/S. KHANDELWAL SHARMA & CO. WARD 2(3) CHARTERED ACCOUNTANTS JAIPUR. ANNAPURNA CHAMBER OPP. RAILWAY STATION POST OFFICE JAIPUR. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI MUKESH KHANDELWAL RESPONDENT BY : SHRI D.K. MEENA DATE OF HEARING : 08.11.2011. DATE OF PRONOUNCEMENT : 18.11.2011 ORDER DATE OF ORDER : 18/11/2011. THIS IS AN APPEAL BY ASSESSEE AGAINST THE ORDER OF LD. CIT (A) RELATING TO ASSESSMENT YEAR 2005-06. 2. THE ASSESSEE IS OBJECTING IN CONFIRMING THE APPL ICATION OF PROVISIONS OF SECTION 145(3) AND THEREAFTER ADDITION MADE @ 5% ON THE GRO SS TURNOVER. 3. THE AO NOTICED THAT ASSESSEE HAS SOLD 8 PROPERTI ES. OUT OF THESE 6 PROPERTIES WERE SOLD ON AGREEMENT BASIS. IN ABSENCE OF DOCUME NTARY EVIDENCE OR PROOF THE AO OBSERVED THAT IT CANNOT BE SAID THAT ASSESSEE HAS N OT RECEIVED SALE CONSIDERATION OVER AND ABOVE THE DISCLOSED SALE CONSIDERATION. THEREFORE HE APPLIED PROVISIONS OF SECTION 2 145(3) AND THEREAFTER BY APPLYING 5% NP RATE ON SAL E PROCEEDS HE COMPUTED PROFIT OF RS. 2 89 200/- AGAINST RS. 2 69 559/- DECLARED. THE LD . CIT (A) CONFIRMED THE ACTION OF THE AO. 4. AFTER CONSIDERING THE ORDERS OF THE AO AND LD. C IT (A) AND SUBMISSIONS I FIND THAT THERE IS NO BASIS TO MAKE ADDITION BY INVOKING PROVISIONS OF SECTION 145(3). THERE IS NO EVIDENCE WITH THE AO THAT ASSESSEE HAS RECEIVED ANY AMOUNT OVER AND ABOVE SALE CONSIDERATION SHOWN. THE SALE CONSIDERATION WAS SH OWN AS PER AGREEMENT ENTERED. THEREFORE THERE IS NO QUESTION OF INVOKING PROVISI ONS OF SECTION 145(3) OR APPLYING NP RATE OF 5% ON THE TURNOVER SHOWN. THEREFORE I DIR ECT THE AO TO ACCEPT THE PROFIT SHOWN BY ASSESSEE AND DELETE THE ADDITION MADE BY HIM. 5. IN THE RESULT APPEAL OF THE ASSESSEE IS ALLOWED . 6. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 18. 11.2011. SD/- ( R.K. GUPTA ) JUDICIAL MEMBER JAIPUR D/- COPY FORWARDED TO :- SMT. ANITA LODHA JAIPUR. THE ITO WARD 2(3) JAIPUR. THE CIT (A) THE CIT THE D/R GUARD FILE (ITA NO. 181/JP/2011) BY ORDER AR ITAT JAIPUR. 3