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TMI Blog2022 (7) TMI 274X X X X Extracts X X X X X X X X Extracts X X X X ..... opting the circle value without invoking the provision of Section 52C(2)(sic.50C(2)) of the I.T. Act, 1961. The Learned CIT(A) has erred and acted illegally in confirming the same. 2. Because the assessment order is bad both on facts and law and not maintainable." 2.1. The assessee has also raised additional grounds of appeal, which reads as under : "1. Because it is fully explained that the Land in question has no approach road rather motorable road and any vehicle like tractor cannot be taken on the land moreover the land remains always full of water in rainy season and only one crop is taken from this land. The Learned Assessing Officer has erred and acted illegally in not taking into account these kinds of problems." 3. This appeal filed by assessee is late by 34 days. The assessee has stated to have received the appellate order passed by ld. CIT(A) on 07.10.2019 and the appeal was to be filed by 06.12.2019, but, the assessee has filed this appeal on 10.01.2020. Thus, the appeal is late by 34 days, beyond the time prescribed u/s 253(3) of the 1961 Act. The assessee has filed an application for condonation of delay, with prayers to condone the delay in filing this appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsideration shown by the assessee for purchase of immovable property, and the assessee on its part failed to give satisfactory reply before the AO w.r.t. explanation called by the AO on the aforesaid differential in the value of the said immovable property, vide assessment order dated 15.12.2016 passed by AO u/s 143(3) of the 1961 Act. 6.1. The assessee being aggrieved filed first appeal before Learned CIT(A). The assessee did not appear before Learned CIT(A) despite as many as seven opportunities of hearings being granted by ld. CIT(A) to the assessee. Since there was no compliance by the assessee, the Learned CIT(A) dismissed the appeal filed by the assessee in limine without discussing the issue's on merits, by relying on the decision of ITAT, Delhi Bench, Delhi in the case of CIT v., Multiplan India Ltd., reported in 38 ITD 320 (Del.), and also by relying on the decision of Hon'ble Madhya Pradesh High Court in the case of Estate of Late Tukoji Rao Holkar v. CWT reported in [1997] 223 ITR 480 [M.P.], vide appellate order dated 13.09.2019. 7. Aggrieved by appellate order passed by Learned CIT(A), the assessee filed second appeal before tribunal. 8. The Learned Counsel for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned Counsel for the assessee also relied upon the judgment and order passed by Hon'ble Calcutta High Court in the case of Sunil Kumar Agarwal v. CIT , reported in [2014] 272 CTR 332 (Cal.). 9. The Learned Sr. D.R. on the other hand submitted that he has no objection if the matter is restored to the file of A.O. for denovo adjudication of the issue on merits in accordance with law, after referring the matter to DVO, so that additions can be made under section 56(2)(vii)(b) of the 1961 Act read with Section 50C(2) of the 1961 Act, based upon the differential amount between the value as determined by DVO and the purchase price. 10. We have considered rival contentions and perused the material on record. We have observed that the assessee is an individual who is engaged in wholesale trading of Galla items i.e., Paddy, Rice and Wheat etc., as a proprietorship concern in the name and style of M/s. Shree Maa Durga Galla Bhandar. The case of the assessee was selected by Revenue for a limited scrutiny under section 143(3) of the 1961 Act, to examine the sale consideration of the property in the tax return which is less than the sale consideration of property reported in AIR. The statut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the validity of the objection of the assessee. He may either accept the valuation of the property on the basis of the report of the approved valuer filed by the assessee, or invite objection from the department and refer the question of valuation of the capital asset to DVO in accordance with Section 55-A of the Act. In all these events, the AO has to record valid reasons, which are justifiable in law. He is not required to adopt an evasive approach of applying deeming provision without deciding the objection or to refer the matter to the DVO under Section 55-A of the Act as a matter of course, without considering the report of approved valuer submitted by the assessee. In all such cases, the reasons recorded by the AO may be questioned by the assessee or the department as the case may be." We have also observed that the assessee has also relied upon the judgment and order passed by Hon'ble Calcutta High Court in the case of Sunil Kumar Agarwal(supra), wherein Hon'ble High Court observed that even in cases where the counsel of the assessee has not asked for referring the matter to DVO, the AO is under bounden duty to act fairly and to give a fair treatment by giving him an optio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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