Ram Narayan, Kota vs Assessee

vk;dj vihyh; vf/kdj.k] t;iqj U;k;ihB] t;iqj IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR

Jh vkj-ih-rksykuh] U;kf;d lnL; ,oa Jh Vh-vkj-ehuk] ys[kk lnL; ds le{k BEFORE: SHRI R.P. TOLANI, JM & SHRI T.R. MEENA, AM

S.A. No. 09/JP/2014 (Arising out of ITA No. 428/JP/2014) fu/kZkj.k o"kZ@Assessment Year : 2008-09

Shri Ram Narayan cuke The I.T.O. S/o- Late Shri Nanda Ji, Vs. Ward 2(1), Kota. R/o- Kumharon Ka Mohalla, Near Akawad House, Chhawani, Kota LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AVVPG 9786 B vihykFkhZ@Appellant izR;FkhZ@Respondent

fu/kZkfjrh dh vksj ls@ Assessee by : Shri Naresh Gupta jktLo dh vksj ls@ Revenue by : Smt. Neena Jeph.

lquokbZ dh rkjh[k@ Date of Hearing : 16/01/2015 ?kks"k.kk dh rkjh[k@ Date of Pronouncement : 26/02/2015

vkns'k@ ORDER

PER: T.R. MEENA, A.M.

The assessee has filed the present stay petition on 30/05/2014 for A.Y.

2008-09.

2. In this case the Assessing Officer passed order U/s 144/148 of the

Income Tax Act, 1961 (in short the Act) due to non-cooperation of the

assessee and calculated long term capital gain at Rs. 49,95,332/-. The learned 2 S.A. No. 09/JP/2015 Ram Narayan Vs. ITO

CIT(A), Kota also confirmed the addition by giving a detail reasoned order and

not allowed deduction U/s 54B of the Act. The land purchased in the name of

wife from the sale consideration. The total demand was as under:-

Tax :- Rs. 14,91,027/- Interest U/s 234A :- Rs. 1,78,923/- Interest U/s 234B :- Rs. 4,92,039/-

3. It was argued by the learned A.R. that the appellant has every hope of

success in the appeal as based on sound legal grounds. It is further argued

that the both the authorities have violated the principle of rule and confirmed

the addition. The assessee has invested substantial part of sale consideration

in new house, construction thereof and new agricultural land. He has no other

source of income and also not having liquidated fund to meet out the demand

of revenue. He is presently not feeling well and as such is not in position to

satisfy the demand of tax and interest disputed in the appeal. Therefore, he

prayed to stay the demand in the interest of justice. He also relied upon the

various case laws including the various instructions of the CBDT.

4. At the outset, the learned Sr. D.R. argued that the assessee's attitude

was non-cooperative with the lower authorities and had not adduced any

evidence against the claim. The learned CIT(A) has passed a reasoned order

and dismissed the assessee's appeal. She further argued that the appellant 3 S.A. No. 09/JP/2015 Ram Narayan Vs. ITO

had not produced evidence of liquidity/fund position before the Hon'ble Bench.

Therefore, the stay petition may be rejected.

5. We have heard the rival contentions of both the parties and perused the

material available on the record. It is undisputed fact that the assessee's

attitude with the Assessing Officer was non-cooperative. The learned AR also

not able to demonstrate the financial position of the assessee and also had not

met out his case that the assessee is likely to be succeeded, which will be

decided after due course of hearing. Accordingly, the stay petition filed by the

assessee is dismissed.

6. In the result, the stay petition is dismissed.

Order pronounced in the open court on 26/02/2015.

Sd/- Sd/- ¼vkj-ih-rksykuh½ ¼Vh-vkj-ehuk½ (R.P.Tolani) (T.R. Meena) U;kf;d lnL;@Judicial Member ys[kk lnL;@Accountant Member

Tk;iqj@Jaipur fnukad@Dated:- 26th February, 2015

*Ranjan

vkns'k dh izfrfyfi vxzsf'kr@Copy of the order forwarded to:

1. vihykFkhZ@The Appellant- Shri Ram Narayan, Kota.

2. izR;FkhZ@ The Respondent- The I.T.O., Ward 2(1), Kota.

3. vk;dj vk;qDr@ CIT 4 S.A. No. 09/JP/2015 Ram Narayan Vs. ITO

4. vk;dj vk;qDr@ CIT(A)

5. foHkkxh; izfrfuf/k] vk;dj vihyh; vf/kdj.k] t;iqj@DR, ITAT, Jaipur

6. xkMZ QkbZy@ Guard File (S.A. 09/JP/2014)

vkns'kkuqlkj@ By order,

lgk;d iathdkj@Asst. Registrar