PARASMAL RAVINDRA KUMAR,CHENNAI vs. ITO NON CORP WARD 10(5), CHENNAI
आयकर अपीलीय अिधकरण, ’ए’ Ɋायपीठ, चेɄई
IN THE INCOME-TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI
ŵी एस.एस. िवʷनेũ रिव, Ɋाियक सद˟ एवं ŵी एस.आर. रगुनाथॎ, लेखा सद˟ के समƗ
Before Shri S.S. Viswanethra Ravi, Judicial Member &
Shri S.R. Raghunatha, Accountant Member
आयकर अपील सं./I.T.A. No.2859/Chny/2024
िनधाŊरण वषŊ/Assessment Year: 2016-17
Parasmal Ravindra Kumar,
No. 16, 1st Floor Dr. Alagappa Road,
Purasawalkam, Chennai 600 084. [PAN:AADPK2322E]
Vs. The Income Tax Officer,
Non Corporate Ward 10(5),
Chennai.
(अपीलाथŎ/Appellant)
(ŮȑथŎ/Respondent)
अपीलाथŎ की ओर से / Appellant by :
Shri D. Anand, Advocate
ŮȑथŎ की ओर से/Respondent by :
Shri P. Krishna Kumar, JCIT
सुनवाई की तारीख/ Date of hearing :
08.05.2025
घोषणा की तारीख /Date of Pronouncement
:
29.05.2025
आदेश /O R D E R
PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER:
This appeal filed by the assessee is directed against the order dated 30.09.2024 passed by the ld. Commissioner of Income Tax
(Appeals), National Faceless Appeal Centre (NFAC), Delhi for the assessment year 2016-17. 2. Ground Nos. 1 & 2 raised by the assessee are general in nature and requires no adjudication.
Ground Nos. 3 to 8 raised by the assessee in challenging the order of the ld. CIT(A) in confirming the addition made by the Assessing Officer
I.T.A. No.2859/Chny/24
2
towards long term capital gains treating the property as residential in the facts and circumstances of the case.
Brief facts of the case are that the assessee is an individual and filed his return of income on 29.09.2016 declaring an income of ₹.8,87,330/-. The assessee also reported agricultural income of ₹.1,21,450/-. The case was selected for complete scrutiny. The assessee is a financier and is also derives income from salary, house property and share trading. He is also a partner in a firm called Marudhar Kesai Enterprises, Paras Bullion & Swasthik Industries. During the previous year relevant to AY 2016-17, the assessee along with two of his family members sold 2.74 acres of vacant land at survey No. 1/2B, 2/3 and 1/2C3B of Padarvadi Village, Sriperumbudur Taluk vide three sale deeds registered as document numbers 3826, 3827 & 3828/2015 dated 06.07.2015 with Sub