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आदेश/Order
Per Sanjay Garg, Judicial Member:
The present appeal has been preferred by the assessee against the order dated 14.06.2019 of the Commissioner of Income Tax(Appeals)-4, Ludhiana [hereinafter referred to as ‘CIT(A)’].
In this appeal, the assessee has raised following grounds of appeal:-
1. The Id. AO is wrong in making an addition u/s 68 of Rs. 11,00,000/- on account of unexplained cash deposits in the bank account by ignoring the fact and not taking into -Chd-2019- Shri Charan Singh, Panchkula 2
consideration the plea on record that the assessee's brother have also withdrawn similar amounts from bank in comparison to the assessee and the same were never deposited back in assessee's brother account, thereby requisite Cash in hand was available with the assessee to explain such cash deposits.
2. The Id. AO is wrong in making an addition of Rs. 54,24,444/- on account of Long Term capital gain on Sale of agricultural land, ignoring the fact that the agricultural land in question is a rural agricultural land, not a capital asset within the definition of Section 2(14) of the Income Tax Act, 1961.
Without prejudice to above, Ld. AO is wrong in making an addition of Rs. 54,24,444/- on account of Long Term Capital Gain on Sale of agricultural land by considering a presumptive figure of Cost of acquisition of meager Rs. 10,000/- per bigha.
In view of above & such other grounds, which may be taken at the time of hearing, the appeal may please be allowed & justice rendered.
3. At the outset, Ld. Counsel for the assessee has invited our attention to the impugned order of the CIT(A) to submit that the same is an ex-parte order passed by the Ld. CIT(A).
4. The contention of the Ld. Counsel for the assessee has been that no proper opportunity of hearing has been given by the Ld. CIT(A).
Inviting our attention to the impugned order of the Ld. CIT(A), the assessee has pointed out that so far as the issue relating to the deposit of cash in the bank account of the assessee was concerned, the amount was -Chd-2019- Shri Charan Singh, Panchkula 3 deposited out of the cash withdrawals from the account of the brother of the assessee. It has been further submitted that the said withdrawals were made for purchase of another capital land jointly by all the brothers, however, since the entire amount was not used and only part of land was purchased, therefore, the remaining amount was deposited into the account of the assessee.
Further, with regard to the ground Nos. 2 & 3, the Ld. counsel has pleaded that submissions made by the assessee have not been properly considered and further the Ld. CIT(A) has made certain observations regarding non production of some documents, whereas, no opportunity of hearing was granted to the assessee in this respect.
The Ld. counsel, therefore, has submitted that the matter be restored to the file of the CIT(A) for adjudication afresh by way of a speaking order.
The Ld. DR has also not objected to the above contention of the assessee.
In view of this, the impugned order of the CIT(A) is set aside and the matter is restored to the file of the CIT(A) with a direction to give proper and reasonable opportunity for hearing to the assessee and to -Chd-2019- Shri Charan Singh, Panchkula 4 consider the evidences relied upon by the assessee and thereafter to decide the appeal afresh in accordance with law.
In the result, the appeal of the assessee stands allowed for statistical purposes.
Order pronounced in the Open Court on 22.10.2020.