Shashi Shekar Saraf, Kolkata v. I.T.O.,Ward-45(3), Kolkata

ITA 849/KOL/2019 | 2010-2011
Pronouncement Date: 08-11-2019 | Result: Allowed

Appeal Details

RSA Number 84923514 RSA 2019
Assessee PAN ALIPS9596A
Bench Kolkata
Appeal Number ITA 849/KOL/2019
Duration Of Justice 6 month(s) 20 day(s)
Appellant Shashi Shekar Saraf, Kolkata
Respondent I.T.O.,Ward-45(3), Kolkata
Appeal Type Income Tax Appeal
Pronouncement Date 08-11-2019
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted SMC
Tribunal Order Date 08-11-2019
Last Hearing Date 18-09-2019
First Hearing Date 18-09-2019
Assessment Year 2010-2011
Appeal Filed On 18-04-2019
Judgment Text
ITA NO. 849/KOL/2019 AS SESSMENT YEAR: 2010-2011 SHASHI SHEKHAR SARAF 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA C(SMC) BENCH KOLKATA BEFORE SHRI P.M. JAGTAP VICE-PRESIDENT I.T.A. NO. 849/KOL/2019 ASSESSMENT YEAR: 2010-2011 SHASHI SHEKHAR SARAF .............................. ...................................APPELLANT 5 KABIR ROAD KOLKATA-700026 [PAN: ALIPS9596A] -VS.- INCOME TAX OFFICER ............................ ... ..................................RESPONDENT WARD-45(3) KOLKATA 3 GOVERNMENT PLACE (WEST) KOLKATA-700 001 APPEARANCES BY: SHRI M.D. SHAH ADVOCATE FOR THE APPELLANT SHRI JAYANTA KHANRA JCIT SR. D.R FOR THE RESPONDEN T DATE OF CONCLUDING THE HEARING : SEPTEMBER 18 201 9 DATE OF PRONOUNCING THE ORDER : NOVEMBER 08 2019 O R D E R THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-13 KOLKATA DA TED 15.01.2019 PASSED EX-PARTE WHEREBY HE DISMISSED THE APPEAL OF THE ASSESSEE FOR NON-PROSECUTION. 2. THE ASSESSEE IN THE PRESENT CASE IS AN INDIVIDUA L WHO ENTERED INTO AN AGREEMENT ALONGWITH OTHER CO-OWNERS WITH A BUILD ER M/S. SARAF REAL ESTATE LIMITED FOR CONSTRUCTION AND DEVELOPMENT OF THEIR PROPERTY AT 2/3 JUDGES COURT ROAD KOLKATA. THE LONG-TERM CAPITAL G AIN ARISING FROM THE SAID TRANSACTION WAS DECLARED BY THE ASSESSEE DURIN G THE RELEVANT YEARS INCLUDING THE YEAR UNDER CONSIDERATION. ON THE BASI S OF THE INFORMATION THAT THE DVO HAD ESTIMATED THE COST OF THE PROPERTY AS ON 01.04.1981 ON A ITA NO. 849/KOL/2019 AS SESSMENT YEAR: 2010-2011 SHASHI SHEKHAR SARAF 2 LOWER SIDE IN THE CASE OF ONE OF THE CO-OWNERS AND KEEPING IN VIEW THAT THE ASSESSEE HAD NOT PAID LONG-TERM CAPITAL GAIN BY ADOPTING THE SALE CONSIDERATION OF FLATS ON THE BASIS OF STAMP DUTY V ALUATION AS PER SECTION 50C OF THE INCOME TAX ACT THE ASSESSMENT FOR THE Y EAR UNDER CONSIDERATION WAS REOPENED BY THE ASSESSING OFFICER AND A NOTICE UNDER SECTION 148 WAS ISSUED BY HIM AFTER RECORDING THE R EASON. IN REPLY A LETTER WAS FILED BY THE ASSESSEE REQUESTING THAT TH E RETURN OF INCOME ORIGINALLY FILED BY HIM FOR THE YEAR UNDER CONSIDER ATION ON 29.09.2010 MAY BE TREATED AS THE RETURN FILED IN RESPONSE TO T HE NOTICE UNDER SECTION 148. DURING THE COURSE OF ASSESSMENT PROCEEDINGS A REQUEST WAS MADE BY THE ASSESSEE TO THE ASSESSING OFFICER FOR GETTING T HE PROPERTY RE-VALUED BY THE DVO. THIS REQUEST OF THE ASSESSEE WAS NOT FOUND ACCEPTABLE BY THE ASSESSING OFFICER AND BY ADOPTING THE FAIR MARKET V ALUE OF THE PROPERTY AS ESTIMATED BY THE DVO AS ON 01.04.1981 HE RECOMPUTE D THE CAPITAL GAIN CHARGEABLE TO TAX IN THE HANDS OF THE ASSESSEE FOR THE YEAR UNDER CONSIDERATION WHICH RESULTED IN THE ADDITION OF RS .1 94 826/-. 3. THE ADDITION OF RS.1 94 826/- MADE BY THE ASSESS ING OFFICER TO HIS TOTAL INCOME UNDER THE HEAD LONG-TERM CAPITAL GAIN WAS CHALLENGED BY THE ASSESSEE IN THE APPEAL FILED BEFORE THE LD. CIT (APPEALS) AND SINCE THERE WAS NO SATISFACTORY COMPLIANCE ON THE PART OF THE ASSESSEE TO THE NOTICES ISSUED BY HIM FIXING THE SAID APPEAL FOR HE ARING FROM TIME TO TIME THE LD. CIT(APPEALS) DISMISSED THE APPEAL OF THE AS SESSEE FOR NON- PROSECUTION VIDE HIS APPELLATE ORDER DATED 15.01.20 19 PASSED EX-PARTE. AGGRIEVED BY THE ORDER OF THE LD. CIT(APPEALS) THE ASSESSEE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL. 4. I HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS SUBMITTED BY THE LD. COUNSEL FOR THE ASSESSEE A WRITTEN SUBMISSION WAS FILED BY THE ASSESSEE BEFORE THE LD. CIT(APPEALS) INTER ALIA CHALLENGING THE VALIDITY OF THE ASSESSMENT MADE BY THE ASSESSING OFFICER UNDER SECTION 143(3)/147 O F THE ACT. HE HAS ITA NO. 849/KOL/2019 AS SESSMENT YEAR: 2010-2011 SHASHI SHEKHAR SARAF 3 CONTENDED THAT THE LD. CIT(APPEALS) HOWEVER HAS N OT TAKEN INTO CONSIDERATION THE SAID WRITTEN SUBMISSION AND PROCE EDED TO DISMISS THE APPEAL OF THE ASSESSEE VIDE HIS IMPUGNED ORDER PASS ED EX-PARTE WITHOUT GOING INTO THE MERIT OF THE ISSUES RAISED THEREIN. HE HAS URGED THAT THE MATTER MAY THEREFORE BE SENT BACK TO THE LD. CIT( APPEALS) FOR DECIDING THE SAME ON MERIT AFTER TAKING INTO CONSIDERATION T HE WRITTEN SUBMISSION FILED BY THE ASSESSEE. SINCE THE LD. D.R. HAS ALSO NOT RAISED ANY OBJECTION FOR SENDING THE MATTER BACK TO THE ASSESSING OFFICE R AS SOUGHT BY THE LD. COUNSEL FOR THE ASSESSEE I SET ASIDE THE IMPUGNED ORDER PASSED BY THE LD. CIT(APPEALS) EX-PARTE AND RESTORE THE MATTER TO THE FILE OF THE ASSESSING OFFICER FOR DECIDING THE SAME ON MERIT AFTER GIVING ONE MORE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. AS UNDERTAKEN BY TH E LD. COUNSEL FOR THE ASSESSEE THE ASSESSEE SHALL MAKE DUE COMPLIANCE BE FORE THE LD. CIT(APPEALS) AND SHALL EXTEND ALL THE POSSIBLE COOP ERATION SO AS TO ENABLE THE LD. CIT(APPEALS) TO DISPOSE OF THE APPEAL EXPED ITIOUSLY. 5. IN THE RESULT THE APPEAL OF THE ASSESSEE IS TRE ATED AS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON NOVEMBER 08 2019. SD/- (P.M. JAGTAP) VICE-PRESIDENT KOLKATA THE 8 TH DAY OF NOVEMBER 2019 COPIES TO : (1) SHASHI SHEKHAR SARAF 5 KABIR ROAD KOLKATA-700026 (2) INCOME TAX OFFICER WARD-45(3) KOLKATA 3 GOVERNMENT PLACE (WEST) KOLKATA-700 001 (3) COMMISSIONER OF INCOME TAX (APPEALS)-13 KOLK ATA (4) COMMISSIONER OF INCOME TAX KOLKATA- KOLKATA; (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES KOLKATA LAHA/SR. P.S.