Income Tax Appellate Tribunal - Ahmedabad
Shri Hitesh Bhupendrabhai Patel,, ... vs The Acit, Anand Circle,, Anand on 27 July, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
AHMEDABAD "A" BENCH
(BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER
& SHRI S. S. GODARA, JUDICIAL MEMBER)
IT(SS)A. No: 11/AHD/2014
(Assessment Year: 2009-10)
Shri Hitesh V/S The ACIT, Anand Circle,
Bhupendrabhai Patel, 5, Anand.
Patel Colony, Nr. Pioneer
School, anand-388001
(Appellant) (Respondent)
PAN: AEPPP4893R
Appellant by : Shri A. L. Thakkar, AR
Respondent by : Shri R. I. Patel, CIT/D.R.
(आदे श)/ORDER
Date of hearing : 25 -07-2017
Date of Pronouncement : 27-07-2017
PER N.K. BILLAIYA, ACCOUNTANT MEMBER:
1. This appeal by the Assessee is preferred against the order of the Ld. CIT(A)- IV, Baroda dated 21.10.2013 pertaining to A.Y. 2009-10.
2 IT(SS)A No. 11/Ahd/2014. A.Y. 2009-10
2. The grievance of the assessee is twofold. Firstly, the assessee is aggrieved by the addition of Rs. 2,70,400/- made u/s. 50C of the Act and secondly, the assessee is further aggrieved by the addition of Rs. 3,35,900/- made on account of unexplained investment in land.
3. Briefly stated the facts of the case are that search and seizure operation u/s. 132 of the Act was carried out on 10.09.2009. Pursuant to the search operation, a notice u/s. 153A of the Act was issued on 16.11.2011 which was served upon the assessee on 18.11.2011. In response to the notice u/s. 153A, return of income was filed on 08.12.2011. Accordingly, statutory notices were issued and served upon the assessee and the assessment order was framed u/s. 153A r.w.s. 143(3) of the Act vide order dated 30.12.2011.
4. The ld. counsel for the assessee vehemently stated that the assessee was not given sufficient opportunity to furnish related/relevant documentary evidences during the course of the assessment proceedings and the First Appellate Authority decline to entertain the admission of the additional evidences. It is the say of the ld. Counsel that the assessee was prevented by reasonable and sufficient cause for not furnishing the documentary evidences before the lower authorities.
5. We have given a thoughtful consideration to the factual matrix at the time of the assessment proceedings, in our considered opinion, the time taken from the date of filing of the return of the completion of the assessment was only 22 days and one of the co-owner of the property namely Shri Rajesh Patel is an NRI and was not easily accessible on account of geographical distances.
3 IT(SS)A No. 11/Ahd/2014. A.Y. 2009-10
6. Considering that the assessee had reasonable and sufficient cause for not furnishing the relevant documentary evidences before the Assessing Officer, the First Appellate Authority should have entertained the additional evidences.
7. In the interest of justice and fair play, we admit the additional evidences and restore the issue to the files of the A.O. The assessee is directed to furnish the documentary evidences before the Assessing Officer and the A.O. is directed to decide the issue afresh in the light of the documentary evidences and after giving a reasonable opportunity of being heard to the assessee.
8. Since, we have restored the issue to the files of the A.O., it would be better for the A.O. to consider the objection of the assessee relating to the treatment of business income as short term capital gains. Since, the nature of business of the assessee has been accepted to be that of a land developer and a broker, the A.O. is directed to consider this issue before applying the provisions of Section 50C of the Act.
9. With the above directions, we set aside the issue to the files of the A.O.
10. In the result, the appeal filed by the Assessee is treated as allowed for statistical purpose.
Order pronounced in Open Court on 27 - 07- 2017
Sd/- Sd/-
(S. S. GODARA) (N. K. BILLAIYA)
JUDICIAL MEMBER True Copy ACCOUNTANT MEMBER
Ahmedabad: Dated 27/07/2017
4 IT(SS)A No. 11/Ahd/2014
. A.Y. 2009-10
Rajesh
Copy of the Order forwarded to:-
1. The Appellant.
2. The Respondent.
3. The CIT (Appeals) -
4. The CIT concerned.
5. The DR., ITAT, Ahmedabad.
6. Guard File.
By ORDER
Deputy/Asstt.Registrar
ITAT,Ahmedabad