Shabbir Hussain Hassan Ally, Kolkata v. I.T.O.Ward 36(3) Kolkata, Kolkata

ITA 1811/KOL/2009 | 2006-2007
Pronouncement Date: 15-03-2011 | Result: Allowed

Appeal Details

RSA Number 181123514 RSA 2009
Assessee PAN ABIPH5372D
Bench Kolkata
Appeal Number ITA 1811/KOL/2009
Duration Of Justice 1 year(s) 4 month(s) 16 day(s)
Appellant Shabbir Hussain Hassan Ally, Kolkata
Respondent I.T.O.Ward 36(3) Kolkata, Kolkata
Appeal Type Income Tax Appeal
Pronouncement Date 15-03-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 15-03-2011
Date Of Final Hearing 15-03-2011
Next Hearing Date 15-03-2011
Assessment Year 2006-2007
Appeal Filed On 29-10-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL BENCH-A: KO LKATA ( ) . . . . ! ! ! ! ) [BEFORE HONBLE SHRI B.R. MITTAL J.M. & HONBLE SH RI C.D. RAO A.M] ' ' ' ' /I.T.A. NO. 1811/KOL./2009 #$ #$ #$ #$ %& %& %& %& /ASSESSMENT YEAR : 2006-2007 SHABBIR HUSSAIN HASSAN ALLY KOLKATA -VS.- INCOME TAX OFFICER WARD-36(3) KOLKATA (PAN : ABIPH 5372 D) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI M.K. SARKAR A.R. RESPONDENT BY : SHRI P.P. SARKAR D.R. ' ' ' ' /O R D E R PER SHRI B. R. MITTAL JUDICIAL MEMBER / . . : THE ASSESSEE HAS FILED THIS APPEAL FOR THE ASSESSM ENT YEAR 2006-07 AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS)-XX KOLKAT A DATED 19.08.2009 DISPUTING THE ADDITION OF RS.46 86 593/- MADE UNDER SECTION 50C O F THE INCOME TAX ACT. 2. WE HAVE HEARD THE LD. REPRESENTATIVES OF THE PAR TIES AND HAVE PERUSED THE ORDERS OF THE AUTHORITIES BELOW. WE OBSERVE THAT THE ASSESSEE WAS THE OWNER OF A FLAT IN AN APARTMENT SITUATED AT 35 RIPPON STREET KOLKATA (UNDER PARK STREET PO LICE STATION) ADMEASURING 2167 SQ.FT. IT WAS PURCHASED IN THE YEAR 1997-98. THE ASSESSEE SOLD TH E SAID FLAT FOR RS.9 50 000/-. THE ASSESSING OFFICER ISSUED NOTICE UNDER SECTION 133(6) OF THE I NCOME TAX ACT TO THE REGISTRAR OF ASSURANCES TO ASCERTAIN THE VALUE ADOPTED BY STAMP VALUATION AUTHORITY FOR THE PURPOSE OF STAMP DUTY. IT WAS INFORMED THAT THE VALUE OF RS.57 65 550/- WAS ADOPTED. THE ASSESSING OFFICER HAS STATED THAT THERE WAS NO APPEAL REVISI ON OR REFERENCE AGAINST THE SAID VALUATION ADOPTED BY THE STAMP VALUATION AUTHORITY AND THERE FORE THE ASSESSING OFFICER DETERMINED THE LONG-TERM CAPITAL GAIN OF RS.46 86 593/- AFTER ALLO WING COST INDEXATION OF ACQUISITION OF THE ITA NO.1811/KOL.2009 2 PROPERTY. BEING AGGRIEVED THE ASSESSEE FILED APPEA L BEFORE THE LD. CIT(APPEALS). THE LD. CIT(APPEALS) ALSO CONFIRMED THE ACTION OF THE ASSES SING OFFICER. 3. DURING THE COURSE OF HEARING THE LD. AUTHORIZED REPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT THE ASSESSING OFFICER DID NOT GIVE A NY OPPORTUNITY TO THE ASSESSEE. HE FURTHER FILED AN ORDER OF DEPUTY INSPECTOR GENERAL OF REGIS TRATION DATED 06.01.2010 AND SUBMITTED THAT THE MARKET VALUE OF THE FLAT WAS CONSIDERED FOR THE PURPOSE OF STAMP DUTY AT RS.47 10 000/-. HE SUBMITTED THAT THE VALUE ADOPTED BY THE ASSESSING O FFICER AND/OR LD. CIT(APPEALS) IS NOT JUSTIFIED. HE FURTHER SUBMITTED THAT THE ASSESSING OFFICER DID NOT ASK FOR ANY VALUATION REPORT AS PER SECTION 50C(2) OF THE INCOME TAX ACT. DURING TH E COURSE OF HEARING THE ASSESSEE FILED AN AFFIDAVIT OF THE REPRESENTATIVE WHO APPEARED BEFOR E THE ASSESSING OFFICER CONFIRMING THAT HE HAD WRITTEN TO THE ASSESSING OFFICER TO REFER THE C ASE TO THE VALUATION CELL IN CASE THE VALUATION SHOWN BY THE ASSESSEE WAS NOT FOUND ACCEPTABLE AND ALSO FILED A COPY OF THE ORDER OF DEPUTY INSPECTOR GENERAL OF REGISTRATION DATED 06.01.2010 TO SUBSTANTIATE HIS SUBMISSION. THE LD. DEPARTMENTAL REPRESENTATIVE HAS NOT DISPUTED THE AB OVE FACTS SAVE AND EXCEPT RELYING ON THE ORDERS OF THE AUTHORITIES BELOW. 4. IN VIEW OF THE ABOVE FACTS WE ARE OF THE CONSID ERED VIEW THAT THE VALUE ADOPTED BY THE ASSESSING OFFICER AT RS.57 65 550/- STATING THAT TH E SAID VALUE WAS ADOPTED BY THE STAMP VALUING AUTHORITY FOR REGISTRATION OF THE CONVEYANC E DEED IS NOT JUSTIFIABLE FOR THE REASON THAT THE ASSESSEE FILED AN APPEAL / REASONS DISPUTING TH E VALUATION ADOPTED BY THE STAMP VALUATION AUTHORITY AND THE APPELLATE AUTHORITY HAS REDUCED T HE MARKET VALUE OF THE FLAT FOR THE PURPOSE OF STAMP VALUATION. FURTHER IT IS ALSO OBSERVED F ROM THE AFFIDAVIT OF SHRI DIPAK ROY CHOWDHURY REPRESENTATIVE OF THE ASSESSEE WHO IS S TATED TO HAVE REPRESENTED BEFORE THE ASSESSING OFFICER THAT HE REQUESTED THE ASSESSING O FFICER TO REFER THE VALUATION TO THE VALUATION CELL IF THE VALUATION SHOWN BY THE ASSESSEE WAS NOT FOUND ACCEPTABLE. THE ASSESSING OFFICER SHOULD HAVE REFERRED THE MATTER TO THE D.V.O. AS PE R SECTION 50C(2) OF THE INCOME TAX ACT TO ASSESS THE MARKET VALUE OF THE FLAT FOR COMPUTING T HE MARKET VALUE OF THE FLAT AND TO COMPUTE LONG-TERM CAPITAL GAIN. THE ASSESSING OFFICER HAS N OT ADOPTED THE PROCEDURE AS IS PROVIDED UNDER SECTION 50C OF THE INCOME TAX ACT. HENCE WE SET ASIDE THE ORDERS OF THE AUTHORITIES BELOW AND RESTORE THE MATTER TO THE ASSESSING OFFIC ER TO RECOMPUTE THE LONG-TERM CAPITAL GAIN IN RESPECT OF THE FLAT UNDER CONSIDERATION AFTER GIVIN G DUE OPPORTUNITY OF HEARING TO THE ASSESSEE ITA NO.1811/KOL.2009 3 AND CONSIDERING SUCH EVIDENCES AS MAY BE FILED BEF ORE HIM. HENCE THE GROUND OF APPEAL TAKEN BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES . 5. IN THE RESULT THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 15.03. 2011. SD/- SD/- [C. D. RAO ( . . )] [ B.R . MITTAL / . . ] ACCOUNTANT MEMBER/ ! ! ! ! JUDICIAL MEMBER/ ] DATED : 15/ 03/ 2011 COPY OF THE ORDER FORWARDED TO: 1. SHRI SHABBIR HUSSAIN HASSAN ALLY 10 OLD CHINA BAZ AR STREET KOLKATA-1. 2 ITO WARD-36(3) KOLKATA 18 RABINDRA SARANI . KOL KATA-1. 3. CIT(A)- KOLKATA 4. CIT- KOLKATA 5. DR KOLKATA BENCHES KOLKATA (TRUE COPY) BY ORDER ASSISTANT REGISTRAR I.T.A.T. KOLKATA. LAHA SR. P.S.