NORATAN LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD 2(2), JAIPUR, JAIPUR

(A. Y. 2008-09) Noratan Lal Sharma, 35-A Nanupuri, Jhotwara, Jaipur 302 012 PAN No.: BCYPS 6349P ...... Appellant Vs. ITO, Ward 2(2), Jaipur …...Respondent Appellant by : None Respondent by : Mr. Gautam Singh Choudhary, Addl. CIT Ld. DR Date of hearing : 01/09/2025 Date of pronouncement : 01/09/2025 O R D E R PER GAGAN GOYAL, A.M:

This appeal by assessee is directed against the order of NFAC, Delhi dated 12.12.2024 passed u/s. 250 of the Income Tax Act, 1961 (in short ‘the Act’). The assessee has raised the following grounds of appeal: - Noratan Lal Sharma

1. On the facts and circumstances of the case and in law also Ld. A.O. grossly erred in initiating reassessment proceedings u/s. 147 of the Income Tax Act, 1961.

3. That the Return of income filed by the assessee was not referred at all before initiating reassessment proceedings. Even the fact that assessee holds PAN was not considered.

4. On the facts and circumstances of the case and in law also Ld CIT(A) grossly erred in considering cost of acquisition as on 01-04-1981 at Rs 90,738/- whereas assessee claimed in his written submission cost of acquisition of property as on 01-04-1981 at Rs 1,32,967/- 5. That the appellant craves his indulgence to add, amend, alters or deletes the grounds of appeal.

2. This appeal was filed by the assessee before us on 28-02-2025; thereafter the matter was fixed for hearing on various occasions as per order sheet. Ultimately, the same stood withdrawn by the assessee vide his withdrawal application dated: 29.08.2025, as the matter was pending before the Ld. CIT (A) for rectification u/s. 154 of the Act.