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Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA
Before: Shri J. Sudhakar Reddy]
order : November 29th, 2019 ORDER Per J. Sudhakar Reddy, AM :- This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax (Appeals)14, Kolkata [‘CIT(A)’ for short] dated 05.03.2019 u/s 250 of the Income Tax Act, 1961 (‘the Act’ for short) for AY 2012-13.
After hearing rival contentions, I find that the issue should be restored to the file of the AO for the reason that, there is no proper allocation of the capital gain in question to the assessee who is a co-owner of the property. Moreover, the finding of the ld. CIT(A) that there was no obligation on the part of the AO to refer the matter to the DVO for the purpose of Section 50C of the Act is against the propositions of law laid down to the Hon’ble jurisdictional High Court. In the case of Sunil Kumar Agarwal vs. Commissioner of Income-tax, Siliguri reported in [2015] 372 ITR 83 (Calcutta).
In the result, the appeal of the assessee is allowed for statistical purposes. Kolkata, the 29th November, 2019.