DAMODHAR REDDY SAMA,R.R.DIST vs. INCOME TAX OFFICER, WARD-8(2), HYDERABAD

At the outset, the learned Counsel for the assessee submitted that the assessee and his wife were the co-owners of a property which was sold, on which the capital gain has arisen and the AO had applied the provisions of section 50C to the transactions and brought the capital gain to tax. He submitted that in the assessees’ wife’s case, the Tribunal had set aside the issue to the file of the CIT (A) and therefore, for uniformity of decision, this appeal may also be set aside to the file of the CIT (A).

The learned DR was also heard.

Having gone through the decision of the ITAT in the case of Smt.Sama Maheshwari in dated 11.5.2018, the assessees’ wife, we deem it fit and proper to set aside the assessee’s appeal also to the file of the CIT (A) for reconsideration of the appeal in accordance with law after affording reasonable opportunity of hearing to the assessee.

In the result, assessee’s appeal is treated as allowed for statistical purposes.