Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, DELHI BENCH: “SMC” NEW DELHI
Before: SHRI SATBEER SINGH GODARA
Date of hearing 05.06.2025 Date of pronouncement 05.06.2025 ORDER This assessee’s appeal for assessment year 2013-14, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2024-25/1073030416(1), dated 07.02.2025 involving proceedings under section 147 r.w.s. 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). Heard both the parties. Case file perused.
Coming to the sole substantive issue between the parties wherein the assessee is aggrieved against both the learned lower authorities’ action making long-term capital gains addition of Rs.9.50 lakhs, it emerges during the course of hearing that the assessee in fact had sold his land situated in the revenue estate of village Rohi, Tehsil – Kolayat, district Bikaner, Rajasthan, which has nowhere been held as in the nature of a capital asset under section 2(14) of the Act forming a condition precedent to assess such capital gains on sale/transfer thereof.
Faced with this situation, learned counsel has further filed the concerned halka patwai’s report dated 12th June, 2024 to this effect. Be that as it may, it is clear that once the assessee’s impugned lands sold/transferred have not been treated as a capital asset, there is no merit found in the impugned long-term capital gains added in assessment. Deleted accordingly.