TMI Blog2018 (9) TMI 1024X X X X Extracts X X X X X X X X Extracts X X X X ..... ch other, cause of substantial justice deserves to be preferred for the other side cannot claim to have vested right in injustice done because of a non-deliberate delay. Respectfully following the same, we are inclined to condone the delay of 146 days. As regards the merits of the additions are concerned, since the CIT (A) has not decided the appeal on merits on the ground that it is an agreed addition, we are of the opinion that since the AO in the A.Y 2013-14 has accepted the valuation at ₹ 272/-, the valuation for the earlier year cannot be higher at ₹ 500/-sq. ft. Therefore, there is clear dichotomy in the stand of the Department in these two years. Therefore, we deem it fit and proper to remand the issue to the file of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A of the IT Act to mention that the assessee realized profit at ₹ 500/- per sft in respect of area of 77835 sft sold by him and therefore the estimation made by the assessing officer is liable to be deleted. 6. The Hon'ble CIT(A) ought to have observed In spite of survey operation u/s.133A of the IT Act the department could not identify any material to establish that the profit for sft was ₹ 500/- and therefore the action of assessing officer in estimating the profit in the light of the statement of the assessee is without any basis and therefore the addition made was illogical, illegal and ought to have deleted the same. 7. The Hon'ble CIT(A) erred in deciding the appeal on merits without condoning the delay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT (A) with a delay of 146 days. The CIT (A) however, held that the delay is not properly explained and refused to condone the delay. Further, he also observed that the addition is on account of agreement by the Managing Partner of the assessee and therefore, the appeal is not mainitainable. 3. The learned Counsel for the assessee submitted that the assessee had admitted the additional income during the course of survey, but later on, after verifying its books of account, found that the profit declared during the course of survey was very high and therefore, the same was not offered in the return of income filed by the assessee. He submitted that the statement of the Managing Partner during the course of survey or during the course of as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... condonation of delay and also placed reliance upon the following decisions: a) Hon'ble Allahabad High Court in the case of M/s. Data Carriers and Ayush Carrying Corporation reported in 56 Taxmann.com 214 (All.) b) ITAT Chennai Bench in the case of Jt.CIT vs. Tractors Farm Equipments Ltd reported in 104 ITD 149 (Chennai) c) ITA Nos.1025 1024/Hyd/2016 dated 26.05.2017. 6. Further, she also drew our attention to the fact that the survey was in 2013 wherein the Managing Partner had admitted to the income @ ₹ 500/- per sq.ft whereas the assessment was completed in 2015, during the course of which also, the Managing Partner had agreed to the addition and therefore, according to her, the admission was of free wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, as held by the Hon'ble Supreme Court in the case of Collector, Land Acquisition Vs. MST.Katiji Ors., (167 ITR 471) (SC), when substantial justice and technical consideration are pitted against each other, cause of substantial justice deserves to be preferred for the other side cannot claim to have vested right in injustice done because of a non-deliberate delay. Respectfully following the same, we are inclined to condone the delay of 146 days. 8. As regards the merits of the additions are concerned, since the CIT (A) has not decided the appeal on merits on the ground that it is an agreed addition, we are of the opinion that since the AO in the A.Y 2013-14 has accepted the valuation at ₹ 272/-, the valuation for the ea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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