The DCIT, Central Circle-1,, Surat v. Shri Vinubhai V.Navadia, Surat

ITSSA 801/AHD/2010 | 2007-2008
Pronouncement Date: 25-10-2013 | Result: Dismissed

Appeal Details

RSA Number 80120516 RSA 2010
Assessee PAN ABNPN5068J
Bench Ahmedabad
Appeal Number ITSSA 801/AHD/2010
Duration Of Justice 2 year(s) 10 month(s) 26 day(s)
Appellant The DCIT, Central Circle-1,, Surat
Respondent Shri Vinubhai V.Navadia, Surat
Appeal Type Income Tax (Search & Seizure) Appeal
Pronouncement Date 25-10-2013
Appeal Filed By Department
Order Result Dismissed
Bench Allotted A
Tribunal Order Date 25-10-2013
Date Of Final Hearing 10-10-2013
Next Hearing Date 10-10-2013
Assessment Year 2007-2008
Appeal Filed On 29-11-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH BEFORE: SRI D.K TYAGI JUDICIAL MEMBER AND SHRI T.R. MEENA ACCOUNTANT MEM BER THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1 SURAT (APPELLANT) VS SHRI VINUBHAI NAVADIA 101 ANGAN FLATS SHRADDHA SOCIETY SUMUL DAIRY ROAD SURAT PAN: ABNPN5068J (RESPONDENT) REVENUE BY: SRI SUBHASH BAINS CIT-D.R . ASSESSEE BY: SRI M.J. SHAH A.R. DATE OF HEARING : 10-10-2013 DATE OF PRONOUNCEMENT : 25-10-20 13 / ORDER PER : D.K. TYAGI JUDICIAL MEMBER:- THIS IS THE REVENUES APPEAL AGAINST THE ORDER OF LD. CIT(A)-II AHMEDABAD DATED 23-09-2010. IT(SS)A NO. 801/AHD/2010 ASSESSMENT YEAR 2007-08 I.T.(SS)A NO.801/AHD/2010 A.Y. 2007-08 PAGE NO DCIT VS. VINUBHAI V. NAVADIA 2 2. THE ONLY EFFECTIVE GROUND TAKEN BY REVENUE READS AS UNDER:- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A) ERRED IN LAW AND IN FACTS IN DIRECTING THE A O TO REFER THE ISSUE OF VALUATION TO THE DEPARTMENT VALUATION OFFICER AN D TO MAKE ADDITION AFTER CONSIDERING THE VALUATION MADE BY THE DVO. 3. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE SO LD PROPERTY NO. 84/1 AND 84/2 BLOCK NO. 114 AT & POST PARVAT TALUKA CHORY ASIS SURAT FOR SALE CONSIDERATION OF RS. 33 97 858/- DURING THE YEAR U NDER APPEAL. THE ASSESSEE HAVING 1/3 SHARE SHOWED THE VALUE IN HIS BOOKS OF A CCOUNT AT RS. 10 69 860/- . THE AO FOUND THAT THE TOTAL VALUE AS PER THE JAN TRI RATE FOR 1/3 SHARE WAS RS. 54 97 400/- WHICH WAS APPLIED BY STAMP DUTY VAL UATION AUTHORITY. THEREFORE AO MADE THE ADDITION FOR THE DIFFERENCE O F AMOUNT OF RS. 44 27 540/- U/S. 50C OF THE ACT. LD. CIT(A) PLACIN G RELIANCE ON THE DECISION OF THE DELHI TRIBUNAL IN THE CASE OF MANJU RANI JAI N 24 SOT 24 DIRECTED THE AO TO REFER THE ISSUE OF VALUATION TO THE DEPARTMEN T VALUATION OFFICER AND MAKE THE ADDITION AFTER CONSIDERING THE VALUATION M ADE BY THE VALUATION OFFICER AS REQUIRED U/S. 50C(2) OF THE ACT. WE FIN D NO INFIRMITY IN SUCH DIRECTION OF LD. CIT(A) THEREFORE THE ORDER PASSED BY LD. CIT(A) IS HEREBY UPHELD. 4. IN THE RESULT REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE AT CAPTION PAGE SD/- SD/- (T.R. MEENA) ( D.K. TYAGI) ACCOUNTANT MEMBER J UDICIAL MEMBER AHMEDABAD : DATED 25/10/2013 I.T.(SS)A NO.801/AHD/2010 A.Y. 2007-08 PAGE NO DCIT VS. VINUBHAI V. NAVADIA 3 AK. / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR ITAT AHMEDABAD 6. GUARD FILE. BY ORDER/ /