Ita/1624/2009 Of The Commissioner Of Income Tax v. Smt.shanti Srikumar

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN TUESDAY, THE 22ND SEPTEMBER 2009 / 31ST BHADRA 1931 ITA.No. 1624 of 2009() ---------------------- ITA.1145/2005 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT: ----------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- SMT.SHANTI SRIKUMAR, 38/1963, PLACKATT COLONY, ELAMKULAM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 22/09/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &V.K.MOHANAN, JJ. ....................................................................I.T. Appeal No.1624 of 2009 ....................................................................Dated this the 22nd day of September, 2009. JUDGMENT Ramachandran Nair, J. The question raised is on the finding of the Tribunal about theactual sale consideration received by the respondent-assessee for saleof property. The department has solely relied on the oral statement ofthe purchaser who has stated that the purchase was at a price over thevalue declared in the document. The Tribunal rejected the contentionholding that purchaser's statement alone is not sufficient to treat thesale consideration at an amount above the declared value. We noticethat there is no material other than the purchaser's statement to take saleconsideration at a figure above the declared price. Admittedly thepurchaser's statement to the department is contrary to the contents ofthe document executed by him with the seller-assessee. Therefore, theTribunal held that assessee cannot be proceeded based on an oral statement by the purchaser alone. No substantial question of law arisesfrom the order of the Tribunal. Consequently appeal is dismissed. C.N.RAMACHANDRAN NAIRJudge pms V.K.MOHANANJudge