9911796707
TMI Blog2023 (9) TMI 612X X X X Extracts X X X X X X X X Extracts X X X X ..... d 08/02/2021. Grounds appeal raised by the assessee in the present appeal are as under: GROUND NO. I 1. That the Order passed under section 201 r.ws. 234E of the Income Tax Act, 1961 ("the Act') is highly illegal, bad in law, suffers from legal infirmities, without affording adequate opportunity of being heard and hence liable to be quashed. It is prayed that the Appellate Order passed by the Ld. Commissioner of Income Tax (Appeals), National " Faceless Appeal Center ( "the Ld.CIT(AT) under section 250 of the Income Tax Act, 1961 ("the Act") may please be cancelled/set-aside on this ground alone. GROUND NO. II 2. On the facts and in the circumstances of the case as well as in law, the Ld.CIT(A) has grossly erred in confirming t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1A) of the Act which is highly illegal, unjustified, unwarranted, not proper on facts and not in accordance with the provisions of law. Hence, it is earnestly prayed that the demand of interest of Rs.26,995/- may please be deleted. GROUND NO. V 5. That the Appellant craves leave to add, amend, alter or delete all or any of the grounds of appeal at the time of hearing of the appeal. 2. Brief facts of the case are that the appellant an individual, along with his father Shri Bharat. Sawaria and his mother Smt. Kalpana Sawaria jointly purchased Two immovable properties viz. two flats bearing number A2-303 and A2-403 at Shrijan Premium, Raipur. These properties were registered by way of a single sale deed. The aggregate consideration in re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TDS u/s 194IA i.e Rs. 50,00,000/-. A chart showing payment by each co-buyer of the property is also furnished the same is extracted as under:- JAIMEET SAWARIA I.T.A.No.: 175/RPR/2023 Assessment Year 2019-2020 Details/Bifurcation of Payments made towards Acquisition of Flats at Shrijan Premium Date of Payment Mode of Payment Name of Bank Jaimeet Sawaria Smt.Kalpana Sawaria Shri Bharat Kumar Sawaria 06.11.2015 Ch.No.000006 HDFC Bank 500000 12.01.2016 Ch.No.000007 HDFC Bank 500000 01.02.2016 Ch.No.000007 HDFC Bank 500000 23.02.2016 Ch.No.000014 HDFC Bank 1000000 23.02.2016 NEFT HDFC Bank 1000000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to make deduction of Tax under the provisions of section 194IA. Regarding TDS already done and paid to the Government Account, Ld AR submitted that the same was done by the assessee under abandon caution, however the same was not the mandate of law to deduct tax u/s 194IA. It was thus the submission of Ld AR that since the liability to deduct tax was not mandatory on the assessee or his parents, assessee should not be penalized for the abandon caution under bona fide belief. Ld AR further without prejudice to the aforesaid arguments, submitted that the calculation of the penalty was also wrong and needs to be recalculated. 5. Contrary to the submission of Ld AR, Ld Sr DR strongly supported the orders of revenue authorities. It was the su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s below the prescribed limit of Rs. 50.00 Lac or not. Ld AR of the assessee demonstrated the fact by submitting a working of bifurcation (extracted supra) of payments made by each participant buyer with supporting evidence in the form of copies of bank statements of each participant. On perusal of the said statement of working and the supporting bank statements it is observed that the Home Loan of Rs. 69,00,000/- from HDFC Bank is divided equally between the co-owners but was not supported with any evidence. Moreover, on perusal of the submission of assessee before the Ld CIT(A), wherein the assessee had a different working, have divided the aggregate consideration of Rs. 1,90,00,000/-, equally between the 3 buyers in 1/3 ratio stating that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y different purchasers. 7. Under such circumstances, in the interest of justice, we find it fit to set aside orders of the revenue authorities and to restore the issue back to the files of Ld AO, so as to verify with supporting evidence, the actual status of the payment of consideration by each co-owner towards each flat/ property and adjudicate the issue afresh in terms of provisions of section 194IA. Assessee shall be provided with reasonable opportunity of being heard. In case assessee fails to comply with during the set aside assessment proceedings, Ld AO would be at liberty to pass an order in accordance with law. In the result ground no 1-4 of the appeal of the assessee are partly allowed for statistical purposes. 8. In the result a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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