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TMI Blog2022 (1) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... d/2019 is against order of the ld. Commissioner of Income-tax (Appeals)-3, Vadodara dated 23.01.2019 passed under section 154 of the Act. In both the cases, assessment year involved is 2009-10. 2. At the outset, the ld.counsel for the assessee submitted that ITAT, Ahmedabad has decided identical issues in the case of another joint owner of the property i.e. Shri Hardik Suryakant Shah. The ITAT in ITA No.592 and 593/Ahd/2019 decided the issue in favour of that joint owner. A copy of order of the ITAT dated 10.11.2021 is placed on record. In the present case also facts and issues are same, that is to say, the issues related to addition under section 50C of the Act in respect of capital gain on transfer of immovable properties, of which the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant Shah in ITA No.592 & 593/Ahd/2019 had dealt with similar issues, and vide order dated 10.11.2021 dismissed the appeal of the assessee qua challenge to order of the CIT(A) passed under section 250 in ITA No.592/Ahd/2019, but allowed appeal of the joint-owner, and set aside order of the CIT(A) passed under section 154 of the Act with direction to adopt the value determined by the DVO instead of applying deeming provision under section 50C of the Act. For better conceptualization of the issue, we would take note of order of the Tribunal decided in the case of Hardik Suryakant Shah (supra), which reads as under: "First we take up ITA No.593/Ahd/2019. It is an appeal filed by the assessee against the order of the learned CIT(A) dated 26.08 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... done the delay. Thanking You, Yours Faithfully Shri Hardik Suryakant Shah (Authorized Signatory) 3. With the assistance of learned representatives, we have gone through the record carefully. We have perused the application for condonation of delay. To our mind, this application does not disclose any reason for not challenging the order of the learned CIT(A). The only argument raised in the application is that there were co-owners in whose cases a valuation report was called for from the DVO and they were waiting the outcome of those appeals. The learned Counsel for the assessee also contended that since it was an addition made under Section 50C of the Income-tax Act by assuming the sale consideration equivalent to the amount on wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale consideration for the purpose of computation of capital gain was taken at Rs. 11,12,018/- in each hand. Thereafter, in one of the co-owner's case, a reference was made to the Valuation Officer who determined the value of the property at Rs. 55,94,230/- . This valuation report came on 29.03.2016. On the basis of this valuation report, each co-owner was deemed to have received the sale consideration at Rs. 6,21,581/- and, on the basis of this amount, the capital gain was to be computed. The assessee filed an application within four years from the date of the order of the learned CIT(A) pleading therein that there is an apparent error in the order. This application of the assessee has been rejected by the learned CIT(A) on the ground tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ough in the case of other assessees and, in the moment it is brought to the notice of the learned CIT(A), it should have taken cognizance of that report. Considering that aspect of the matter, we allow the application of the assessee moved under Section 154 of the Act and set aside the impugned order dated 23.01.2019. The error committed in the order dated 26.08.2013 is rectified. The Assessing Officer is directed to take sale consideration in the hands of the assessee equivalent to the amount taken in the case of Prakash Chunilal Shah and Chirag Prakash Shah. Though we have not interfered in the order of the learned CIT(A) dated 26.08.2013 because the appeal was time barred before us, but by rectifying the error, which is a proceeding well ..... X X X X Extracts X X X X X X X X Extracts X X X X
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