Smt P. Ammani, Bangalore v. DCIT, Bangalore

ITSSA 44/BANG/2008 | misc
Pronouncement Date: 02-03-2010 | Result: Partly Allowed

Appeal Details

RSA Number 4421116 RSA 2008
Bench Bangalore
Appeal Number ITSSA 44/BANG/2008
Duration Of Justice 1 year(s) 8 month(s) 22 day(s)
Appellant Smt P. Ammani, Bangalore
Respondent DCIT, Bangalore
Appeal Type Income Tax (Search & Seizure) Appeal
Pronouncement Date 02-03-2010
Appeal Filed By Assessee
Order Result Partly Allowed
Bench Allotted A
Tribunal Order Date 02-03-2010
Date Of Final Hearing 02-03-2010
Next Hearing Date 02-03-2010
Assessment Year misc
Appeal Filed On 10-06-2008
Judgment Text
THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH A BEFORE DR. O.K NARAYANAN VICE PRESIDENT AND SHRI SHAILENDRA KUMAR YADAV JUDICIAL MEMBER IT(SS)A NO.44 /BANG/ 2008 (BLOCK ASST. YEAR 1998-99 TO 2003-04) SMT. P AMMANI NO.1147 12 TH MAIN HAL 2 ND STAGE INDIRANAGAR BANGALORE-560 008. . APPELLANT VS. THE DY. COMMISSIONER OF INCOME-TAX CENTRAL CIRCLE-1(2) BANGALORE-560 001. . RESPONDENT AND IT(SS)A NO.52/B/2008 (BLOCK ASST. YEAR -1.4.1997 TO 3.4.2003) THE DY. COMMISSIONER OF INCOME-TAX CENTRAL CIRCLE-1(2) BANGALORE-560 001. . APPELLANT VS. SMT. P AMMANI NO.1147 12 TH MAIN HAL 2 ND STAGE INDIRANAGAR BANGALORE-560 008. . RESPONDENT REVENUE BY : SMT. JACINTA ZIMIK VASHAI ADDL. C OMMISSIONER OF INCOME-T AX ASSESSEE BY : SHRI NARENDRA SHARMA ADVOCATE IT(SS)A NO.44 & 52/B/08 2 O R D E R PER DR. O.K NARAYANAN VICE PRESIDENT THESE ARE TWO CROSS-APPEALS FILED BY THE ASSESSEE AS WELL AS THE REVENUE. THESE CROSS APPEALS ARE BLOCK ASSESSMENT APPEALS. THEY ARE DIRECTED AGAINST THE COMMON ORDER OF THE CIT(A) -VI AT BANGALORE DATED 31.3.2008 AND ARISE OUT OF BLOCK ASSESSMENT C OMPLETED U/S 143(3) READ WITH SEC. 158BD OF THE INCOME-TAX ACT 1 961. 2. FIRST WE WILL CONSIDER THE BLOCK ASSESSMENT FIL ED BY THE ASSESSEE IN IT(SS)A NO.44/B/2008. 3. THE TWO GROUNDS RAISED BY THE ASSESSEE IN HER AP PEAL ARE THAT THE CIT(A) IS NOT JUSTIFIED IN CONFIRMING THE CAPIT AL GAINS ADDITION AT RS.5 01 207/- IN THE CASE OF KGF PROPERTY AND CAPIT AL GAINS AT RS.1 77 038/- IN THE CASE OF DINDUGAL PROPERTY. 4. WE HEARD BOTH SIDES IN DETAIL AND CONSIDERED ALL THE ASPECTS OF THE CASE. WE MODIFY THE ADDITION IN RESPECT OF KGF PROPERTY TO RS.2 LAKHS. THE BALANCE ADDITION IN THE CASE OF KGF PRO PERTY AND THE ADDITION OF RS.1 77 038 IN RESPECT OF DINDUGAL PROP ERTY ARE DELETED. IT(SS)A NO.44 & 52/B/08 3 5. THE GROUND OF THE ASSESSEE THAT THE CAPITAL GAIN SHOULD BE ASSESSED AT 20% AND NOT AT 60% CANNOT BE ACCEPTED AS THE ASSESSMENT HAS BEEN MADE AS A BLOCK ASSESSMENT AND ONLY ONE RA TE OF TAX IS PRESCRIBED U/S 113. 6. IN RESULT THE GROUND IS DISMISSED. 7. NEXT WE WILL CONSIDER THE APPEAL OF THE REVENUE IN IT(SS)A NO.52/B/2008. 8. THE ONLY GROUND RAISED BY THE REVENUE IS THAT TH E CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.4 98 688/- MAD E BY THE ASSESSING OFFICER TOWARDS UNEXPLAINED INVESTMENT IN JEWELLERY . 9. FOR THE REASONS STATED IN THE CASE OF SMT. V. J EYANTHI WE REINSTATE THE ADDITION TO THE EXTENT OF RS.1 LAKH.. 10. THE APPEAL FILED BY THE REVENUE IS ALLOWED TO T HE ABOVE EXTENT. IT(SS)A NO.44 & 52/B/08 4 11. IN RESULT THE APPEAL FILED BY THE REVENUE AS W ELL AS THE ASSESSEE ARE PARTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON TUESDAY THE 2ND DAY OF M ARCH 2010 AT BANGALORE. SD/- SD/- (SHAILENDRA KUMAR YADAV) (DR. O.K NARAYA NAN) JUDICIAL MEMBER VICE PR ESIDENT VMS. COPY TO : 1. THE ASSESSEE 2. THE REVENUE 3.THE CIT CONCERNED. 4.THE CIT(A) CONCERNED. 5.DR 6.GF 7..GF ITAT NEW DELHI. BY ORD ER ASST. REGISTRAR ITAT BANGALOR E.