Tarun Kumar Goyal v. ACIT - Taxpublishers.in

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The Tax PublishersITA No. 456/Hyd/20, 457/Hyd/20, 458/Hyd/20 2021 TaxPub(DT) 2352 (Hyd-Trib) IN THE ITAT, HYDERABAD BENCH S.S. GODARA, J.M. & LAXMI PRASAD SAHU, A.M. Tarun Kumar Goyal v. ACIT ITA No. 456/Hyd/20, 457/Hyd/20, 458/Hyd/20 20 April, 2021 Assessee by: P. Murali Mohana Rao, Authorised Representative Revenue by: Sibendu Moharana, Departmental Representative ORDER *S.S. Godara, J.M.* The instant three appeals pertain to two assessees, S/Shri Tarun Kumar Goyal and Arun Kumar Goyal for assessment years 2014-15 & 2016-17. The former assessee's appeals ITA Nos. 456 & 457/Hyd/2020 arise against the Commissioner (Appeals)-11, Hyderabad's separate orders, both, dated 31-1-2020 (Assessment years 2014-15 & 2016-17) passed in case Nos. 10252 & 10255/2018-19 followed by a latter assessee's appeal ITA No. 458/Hyd/2020 for assessment year 2016-17 directed against the very Commissioner (Appeals)'s order; of even date, passed in case No. 10253/2018-19, involving proceedings under section 143(3) read with section 153A of the Income Tax Act, 1961 (in short, 'the Act'); (in all cases), respectively. Heard both the parties. Case files perused. 2. We proceed appeal-wise for the sake of convenience and brevity. The former assessee's in appeal ITA No. 456/Hyd/2020 challenges correctness of both the lower authorities' action treating his long term capital gain claim of Rs. 73,89,650 as bogus alongwith 30% alleged commission charges thereupon to the tune of Rs. 2,21,690; respectively. The Commissioner (Appeals)'s detailed discussion confirming the assessing officer's action to this effect reads as under :-- SUBSCRIBE FOR FULL CONTENT

The Tax PublishersITA No. 456/Hyd/20, 457/Hyd/20, 458/Hyd/20
2021 TaxPub(DT) 2352 (Hyd-Trib)

IN THE ITAT, HYDERABAD BENCH

S.S. GODARA, J.M. & LAXMI PRASAD SAHU, A.M.

Tarun Kumar Goyal v. ACIT

ITA No. 456/Hyd/20, 457/Hyd/20, 458/Hyd/20

20 April, 2021

Assessee by: P. Murali Mohana Rao, Authorised Representative

Revenue by: Sibendu Moharana, Departmental Representative

ORDER

S.S. Godara, J.M.

The instant three appeals pertain to two assessees, S/Shri Tarun Kumar Goyal and Arun Kumar Goyal for assessment years 2014-15 & 2016-17. The former assessee's appeals ITA Nos. 456 & 457/Hyd/2020 arise against the Commissioner (Appeals)-11, Hyderabad's separate orders, both, dated 31-1-2020 (Assessment years 2014-15 & 2016-17) passed in case Nos. 10252 & 10255/2018-19 followed by a latter assessee's appeal ITA No. 458/Hyd/2020 for assessment year 2016-17 directed against the very Commissioner (Appeals)'s order; of even date, passed in case No. 10253/2018-19, involving proceedings under section 143(3) read with section 153A of the Income Tax Act, 1961 (in short, 'the Act'); (in all cases), respectively.

Heard both the parties. Case files perused.

2. We proceed appeal-wise for the sake of convenience and brevity. The former assessee's in appeal ITA No. 456/Hyd/2020 challenges correctness of both the lower authorities' action treating his long term capital gain claim of Rs. 73,89,650 as bogus alongwith 30% alleged commission charges thereupon to the tune of Rs. 2,21,690; respectively. The Commissioner (Appeals)'s detailed discussion confirming the assessing officer's action to this effect reads as under :--