NITIN KIBE, L/H. OF LATE SHRI PADMAKAR KIBE, ,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 9, , PUNE

This assessee’s appeal for A.Y. 2006-07 is directed against the CIT(A)-9, Pune’s order dated 23/02/2017 passed in case No. PN/CIT(A)-6/ACIT, Cir- 9/148/2015-16/417 involving proceeding u/s. 143(3) r.w.s. 254 of the Income Tax Act, 1961 ; in short "the Act”.

Coming to the assessee’s sole substantive grievance raised in the instant appeal that both the learned lower authorities have erred in law and on facts in adjudicating the cost of acquisition of land in the relevant previous year involving Rs.12,58,403/- as against the correct claim of Rs.16,22,474/- , we note at the outset there is hardly any need for us to delve deeper in the relevant factual matrix.

Suffice to say, that this second round of proceeding between the parties before the tribunal. Learned co-ordinating bench on 25.06.2013 had restored the issue back to the Assessing Officer. The assessee’s case before us in light of these detailed written submission on page 10 of the CIT(A)’s order is that learned authorities have not adopted the correct cost of acquisition of all the survey nos. of the land sold in the relevant previous year. Face with the situation, we deem it appropriate to restore with instant issue back to the Assessing Officer subject to the condition that it shall be bounden duty of the assessee only to produce record all the correspondent details of the survey nos. sold with cost of acquisition; at his risk and responsibility only within three effective opportunities in consequences proceedings. Ordered accordingly.

This assessee’s appeal is allowed for stastical purposes in above terms.