Itxa/1670/2012 Of Commissioner Of Income Tax - 15 v. M/S.darshan Construction

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1670 OF 2012 Commissioner of Income Tax-15-Versus-M/s. Darshan Construction ..Appellant ..Respondent ........... Mr. A. R. Malhotra a/w N. A. Kazi for the Appellant.Mr. J. D. Mistri, Senior Advocate, i/b. Yadunath Chudhari for the Respondent. ........... CORAM: S.C. DHARMADHIKARIAND A.A. SAYED, JJ. DATE :- 24[th] DECEMBER, 2014 P.C.: Having heard both sides, we do not find that the Appeal deserves to be admitted. The Tribunal as also the Commissioner concurrently held that the cited instances of a sale and in relation to a property in the same locality, was not enough to conclude that the addition was justified and on the footing that the extra profit was made by the Assessee. Both the Commissioner and the Tribunal concluded that citing such instance was not enough. There ought to have been independent inquiries made and what was the actual sale price received by the Assessee. Even in the comparable instance it was found that the rate was Rs.6,037/-. The 1/2 2 9.itxa1670.12.doc Assessee sold the flats/units over a passage of time ranging from 18[th ]September, 2004 to 15[th] December, 2006. The rates were in between Rs.3,109/- to Rs.4,505/- per sq. mt. The instances stated to be comparable was in relation to the unit on the ground floor. The unit on the upper floor cannot be presumed to fetch a higher rate as was estimated by the Assessing Officer. In the absence of any cogent and proper material but purely on guess work, the addition has been made. The estimated cost has been interfered with and such concurrent exercise does not suffer from perversity or vitiated by any error of law apparent on the face of the record enabling us to admit the Appeal challenging the order dated 25[th] April, 2012 passed by the Tribunal in relation to assessment year 2007-08. The Appeal is dismissed. No costs. (A. A. SAYED, J.) (S.C. DHARMADHIKARI, J.) 2/2