Subrata Ghosh, Howrah v. ITO, Ward - 46(4), Kolkata, Kolkata

ITA 442/KOL/2010 | 2006-2007
Pronouncement Date: 23-04-2010

Appeal Details

RSA Number 44223514 RSA 2010
Assessee PAN AHCPG6858M
Bench Kolkata
Appeal Number ITA 442/KOL/2010
Duration Of Justice 1 month(s) 24 day(s)
Appellant Subrata Ghosh, Howrah
Respondent ITO, Ward - 46(4), Kolkata, Kolkata
Appeal Type Income Tax Appeal
Pronouncement Date 23-04-2010
Appeal Filed By Assessee
Bench Allotted SMC
Tribunal Order Date 23-04-2010
Assessment Year 2006-2007
Appeal Filed On 01-03-2010
Judgment Text
1 IN THE INCOME TAX APPELLATE TRIBUNAL 'B BENCH : KOLKATA (BEFORE HONBLE SRI B.R.MITTAL J.M. AND HON BLE SRI B.C.MEENA A.M.) I.T.A. NO. 442 /KOL/2010 ASSESSME NT YEAR : 2006-07 SUBRATA GHOSH VS ITO WARD 46(4) KOLKATA (PAN NO. AHCPG 6858 M) (APPELLANT) (RESPONDENT) APPELLANT BY : SR I S.BANERJEE. RESPONDENT BY : SRI PIYUSH KOLHE. O R D E R PER SHRI B.C.MEENA A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF THE CIT(A)- XXX KOLKATA DATED 29.12.09 FOR THE ASSESSMENT YEAR 2006-07. 2. GROUNDS OF APPEAL READ AS UNDER : 1. THAT THE CIT(A) WAS NOT JUSTIFIED IN CONFIRM ING THE ADDITION OF RS.3 08 000 AS UNEXPLAINED INCOME IN THE HANDS OF THE APPELLANT. 2. THAT THE CIT(A) ERRED IN LAW AS WELL AS FACT S IN TREATING A SUM OF RS.308000/- OUT OF A SUM OF RS.7 50 000/- TOWARDS SALE PROCEEDS OF FLAT BY APPELLANTS FATHER AS UNEXPLAINED INCOME IN THE HAN DS OF THE APPELLANT. 3. THAT THE CIT(A) COMPLETELY MISUNDERSTOOD T HE FACTS THAT IT WAS IN FACT A GIFT RS.7 50 000/- MADE BY THE APPELLANT S FATHER TO THE APPELLANT OUT OF THE SALE PROCEEDS OF FLAT. 4. THAT THE CIT(A) ERRED IN BRUSHING ASIDE THE M ARKET PRICE OF RS.7 48 650 OF THE FLAT AGAINST THE PROVISIONS OF I.T.ACT. 3. WHILE PLEADING ON BEHALF OF THE ASSESSEE THE LEARNED A.R. SUBMITTED THAT DURING THE PERIOD RELEVANT TO THE ASSESSMENT YEA R 2006-07 A SUM OF RS.7 05 000 WAS DEPOSITED IN THE BANK ACCOUNT OF THE ASSESSEE. THE ASSESSEE SUBMITTED THAT THIS AMOUNT WAS RECEIVED AS GIFT FROM HIS FATHER L ATE SRI S.S.GHOSH . HIS FATHER SOLD THE FLAT AT 58/1 NATABAR PAL ROAD HOWRAH- 711 101. THE A.O. ASKED THE PURCHASER REGARDING THE SALE CONSIDERATION AND H E HAS INFORMED THE A.O. THAT HE HAS PAID RS.4 42 000. HE SUBMITTED THAT THE RE GISTERED VALUER HAS ALSO VALUED THE PROPERTY AT RS.7 48 650 WHICH IS EVIDENT FROM PAGE 25 OF THE PAPER BOOK. HE ALSO SUBMITTED THAT THE FATHER OF THE ASSESSEE WAS ASSESSED TO INCOME TAX. THE 2 A.O. WAS NOT JUSTIFIED IN MAKING THE ADDITION O F RS.3 08 000 BEING THE DIFFERENCE IN THE CONSIDERATION OF MONEY AND THE D ECLARED PRICE IN THE SALE DEED. 4. ON THE OTHER HAND THE LEARNED D.R. SUBMITTED T HAT THE LEARNED A.RS CLAIM THAT THE FATHER OF THE ASSESSEE WAS ASSESSED TO INCOME TAX AND HE HAS SHOWN THE SALE CONSIDERATION OF RS.7 50 000/- IN HIS RETURN OF INCOME. THIS ISSUE REQUIRES VERIFICATION AT THE LEVEL OF THE A.O. AND HE SUBMITTED THAT IN SUCH A SITUATION THE MATTER MAY BE RESTORED TO THE FILE OF THE A.O . 5. AFTER HEARING BOTH THE SIDES WE FIND THAT T HE SALE CONSIDERATION SHOWN IN THE SALE DEED /CONVEYANCE DEED IS RS.4 42 200/- WH ICH IS CLEARLY MENTIONED AT THE PAGES 15 & 16 OF THE PAPER BOOK. HOWEVER THE REGI STRATION AUTHORITIES HAD ASSESSED THE MARKET VALUE AT RS.7 48 658 WHICH IS EVIDENT FROM PAGE NO. 25 OF THE PAPER BOOK. HOWEVER IT IS NOT CLEAR WHAT AMO UNT HAS BEEN SHOWN IN THE COMPUTATION OF THE CAPITAL GAIN BY THE FATHER OF T HE ASSESSEE. THIS ASPECTS VERIFICATION IS NECESSARY TO EXPLAIN THAT HIS FATH ER HAS GIFTED RS.7 50 000 TO HIM WHICH HE RECEIVED FROM THE SALE OF THE FLAT. ASSES SEES CLAIM THAT HIS FATHER HAD RECEIVED RS.7 50 000 AS SALE CONSIDERATION TO BE EXAMINED PARTICULARLY FROM THE I.T. RECORDS. KEEPING THIS ASPECT IN VIEW WE R ESTORE THIS ISSUE TO THE FILE OF THE A.O. FOR LIMITED PURPOSE TO VERIFY FROM THE INCOM E TAX RECORD OF THE ASSESSEES FATHER. 6. IN THE RESULT THE ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON (B.R.MITTAL) (B.C.MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : COPY FORWARDED TO :- 1) ITO WARD 46(4) KOLKATA. 2) SUBRATA GHOSH 50/1/26 NATABAR PAL ROAD HOWRA H 3) CIT(A) KOLKATA. 4) CIT KOLKATA. 5) D.R. ITAT KOLKATA. BY ORDER ASSISTANT REGISTRAR I.T.AT. KOLKATA. BCD 3