HEMANT PADMAKAR CHAVAN,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, NASHIK, NASHIK

This is an appeal filed by the assessee directed against the order of ld. Commissioner of Income Tax (Appeals)-1, Nashik [‘the CIT(A)’] dated 09.01.2017 for the assessment year 2011-12.

At the outset, we find that there is a delay of 09 days in filing the present appeal. The appellant had filed the petition praying for condonation of delay on the ground that the delay had occurred on account of poor health as he was suffering from slip disc etc. On the other hand, ld. Sr. DR has no serious objection to condone the delay. In the circumstances, we are of the considered opinion that it is a fit case for condoning the delay of 09 days. Accordingly, we condone the delay of 09 days and admit the appeal for adjudication. 3. Briefly, the facts of the case are that the appellant is an individual deriving income under the head “Income from other sources”. The Return of Income for the assessment year 2011-12 was filed on 30.09.2011 declaring total income of Rs.16,04,561/-. Against the said return of income, the assessment was completed by the Asstt. Commissioner of Income Tax, Circle-1, Nashik (‘the Assessing Officer’) vide order dated 21.03.2014 passed u/s 143(3) of the Income Tax Act, 1961 (‘the Act’) at a total income of Rs.2,78,43,145/-. While doing so, the Assessing Officer made addition by disallowing the cost of expenses incurred for sale of the property/land situated at Survey No.617A, Plot No.176, Nashik in the form of amounts paid to tenants for vacating the property of Rs.94,41,000/- while computing the capital gains for failure of the assessee to prove the genuineness of the expenditure.