Lt. Raghvendra Kumar Gupta.Th.L/H Smt.Sarita Gupta(wife),C/o M/s K.V.Enterprises,, Varanasi v. DCIT,, Varanasi

ITA 308/ALLD/2013 | 2005-2006
Pronouncement Date: 27-04-2015 | Result: Allowed

Appeal Details

RSA Number 30820714 RSA 2013
Assessee PAN ABYPG6701H
Bench Allahabad
Appeal Number ITA 308/ALLD/2013
Duration Of Justice 1 year(s) 5 month(s) 19 day(s)
Appellant Lt. Raghvendra Kumar Gupta.Th.L/H Smt.Sarita Gupta(wife),C/o M/s K.V.Enterprises,, Varanasi
Respondent DCIT,, Varanasi
Appeal Type Income Tax Appeal
Pronouncement Date 27-04-2015
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 27-04-2015
Date Of Final Hearing 27-04-2015
Next Hearing Date 27-04-2015
Assessment Year 2005-2006
Appeal Filed On 07-11-2013
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH ALLAHABAD BEFORE SHRI D. KARUNAKARA RAO ACCOUNTANT MEMBER AN D SHRI C. N. PRASAD JUDICIAL MEMBER ITA NOS. 122 & 308 /ALLD/2013 ASSESSMENT YEARS: 2004-05 & 2005-06 LATE RAGHVENDRA KUMAR GUPTA THROUGH LEGAL HEIR SARITA GUPTA C/O M/S. K.V. ENTERPRISES J. 12/9 BC RAMKATORA VARANASI UTTAR PRADESH PAN:-ABYPG6701H VS. DCIT CIRCLE-3 VARANASI (APPELLANT) (RESPO NDENT) ASSESSEE BY : SHRI SUBHASH CHAND REVENUE BY : SHRI UMESH PATHAK DATE OF HEARING : 27.04.2015 DATE OF PRONOUNCEMENT : 27.04.2015 O R D E R PER D. KARUNAKARA RAO AM: THERE ARE TWO APPEALS UNDER CONSIDERATION FOR THE A.YS. 2004-05 & 2005-06 AND ARE FILED AGAINST THE TWO SEPARATE ORDER OF THE LD. CIT(A) VARANASI DATED 22.03.2013 & 27.08.2013 RESPECTIVELY. 2. IN THE GROUND ASSESSEE RAISED THE ISSUE RELATIN G THE VALUATION REPORT FOUND DURING THE SURVEY OF THE OPERATION AND THE SAME REL ATES TO A BUILDING UNDER CONSTRUCTION. THE SAID REPORT WAS USED BY THE ASSES SEE AND MADE ADDITIONS WHICH ARE DISPUTED IN THE PRESENT APPEAL. SIMILAR ADDITIO NS WERE MADE BY THE AO IN THE CASE OF SRI RATNESH KUMAR GUPTA AND MATTER REACHED THE TRIBUNAL IN THAT CASE. FURTHER HE MENTIONED THAT SIMILAR ISSUE CAME UP FO R ADJUDICATION BEFORE THE TRIBUNAL IN THE CASE OF RATNESH KUMAR GUPTA VARAN ASI. BRINGING OUR ATTENTION TO THE SAID ORDER OF THE TRIBUNAL RATNESH KUMAR GUPTA ITA NO.128/ALLD/2013 DATED 09.09.2014 ASSESSEE SUBMITTED THAT THE MATTERS WERE ALLOWED BY THE TRIBUNAL PERUSAL ALLOWED FOR STATISTICAL PURPOSE IN THAT CAS E. IN THIS REGARD HE BROUGHT TO OUR ITA NOS. 122 & 308 /ALLD/2013 ASSESSMENT YEARS: 2004-05 & 2005-06 2 ATTENTION PARA 5 OF THE IMPUGNED ORDER OF THE TRIBU NAL (SUPRA) AND DEMONSTRATED THE DECISION OF THE TRIBUNAL IN REMANDING WITH DIRE CTIONS. 3. AFTER HEARING BOTH THE PARTIES WE PERUSED THE S AID ORDER OF THE TRIBUNAL IN GENERAL AND THE CONTENTS OF PARA 5 IN PARTICULAR. IN VIEW OF THE SIGNIFICANCE WE REPRODUCED THE SAID PARA 5 OF THE TRIBUNAL AS UNDER :- WE HAVE HEARD BOTH THE SIDES ON THE ISSUE. AFTER H EARING BOTH THE SIDES WE HOLD THAT THE CONTENTS OF VALUATION REPORT FOUND DU RING THE SURVEY OPERATION COULD NOT BE TAKEN AS TRUE AS ASSESSEE HIMSELF HAD NOT RELIED ON THIS VALUATION REPORT IN RESPECT OF PERIOD OF CONSTRUCTI ON AND SOURCE OF INVESTMENT. THIS WAS A VALUATION REORT WHICH HAS BE EN PREPARED BY ASSESSEE FOR HIS OWN PURPOSE. BUT IT HAS NOT RELIED ON FOR E XPLAINING SOURCE OF INCOME. THEREFORE SUCH DOCUMENTS CANNOT BE TAKEN AS TRUE B Y THE PRESUMPTION AS PROVIDED IN SECTION 292C WITH REGARD TO THE ASSESSE ES BOOKS OF ACCOUNT OTHER DOCUMENTS MONEY BULLION JEWELLERY OR OTHER VALUABLE ARTICLE OR THING. THEREFORE WE CONFIRM THE ORDER OF CIT (A) TO THE E XTENT THAT THE REFERENCE TO THE VALUATION OFFICER BY THE ASSESSING OFFICER BY I NVOKING THE PROVISIONS OF SECTION 142A WAS JUSTIFIED FOR ESTIMATING THE VALUE OF THE RESIDENTIAL HOUSE. WITH REGARD TO OTHER CLAIMS OF THE ASSESSEE THE VA LUATION OFFICER HAS NOT CONSIDERED CERTAIN ITEMS/CLAIMS WHICH THE ASSESSEE MADE. THE RECOVERY OF BRICKS FROM THE DEMOLITION OF THE OLD BUILDING OR U SE OF SAL-WOOD IN PLACE OF TEAK-WOOD PERIOD OF CONSTRUCTION OF THE CUP-BOARD ETC. AND DEDUCTION OF THE SELF SUPERVISION ARE CLAIMS MADE BY ASSESSEE. IN TH E INTEREST OF JUSTICE AND EQUITY WE HOLD THAT IT SHALL BE PROPER TO REMAND T HE ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR DECIDING DE NOVO AFTER PROVID ING AN OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. WE ORDER ACCORDINGLY. CONSIDERING THE ABOVE WE ARE OF THE OPINION THE GR OUND RAISED BY THE ASSESSEE IN BOTH THE APPEALS FOR THE A.YS. 2004-05 & 2005-06 SH OULD ALSO BE REMANDED TO THE FILE OF THE AO WITH IDENTICAL DIRECTIONS. ACCORDING LY THE GROUNDS ARE REMANDED AS ABOVE. 4. IN THE RESULT APPEAL OF THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 27 TH DAY OF APRIL 2015. SD/- SD/- (C. N. PRASAD) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER ALLAHABAD DATED: 27.04.2015 *SRIVASTAVA COPY TO: THE APPELLANT THE RESPONDENT THE CIT CONCERNED ALLAHABAD THE CIT(A) CONCERNED ALLAHABAD THE DR BENCH //TRUE COPY// BY ORDER DY/ASSTT. REGISTRAR ITAT ALLAHABAD.