DESHRAJ,GHAZIABAD vs. ITO WARD (1)(2), GHAZIABAD

ITA 2671/DEL/2023Status: DisposedITAT Delhi04 August 2026AY 2012-13Bench: SHRI CHALLA NAGENDRA PRASAD (Judicial Member), SHRI BRAJESH KUMAR SINGH (Accountant Member)8 pages
AI SummaryDismissed

What did the Tribunal hold?

The tribunal upheld the AO's determination of Long Term Capital Gains, finding that the assessee failed to provide evidence to rebut the calculation of the cost of acquisition or establish eligibility for exemption u/s 54F. Given the assessee's continuous non-compliance and lack of participation in the proceedings, the tribunal affirmed the validity of the ex-parte assessment and the initiation of proceedings u/s 148.

What were the facts?

The assessee sold immovable property for Rs. 16.77 Crore (with his 25% share being Rs. 4.19 Crore) in AY 2012-13. The AO assessed Long Term Capital Gains of Rs. 3,63,96,162/- after allowing indexed cost of acquisition and exemption u/s 54B, but denied exemption u/s 54F. The assessment was completed ex-parte u/s 144 r.w.s 147 as the assessee failed to respond to multiple notices issued u/s 133(6) and 148, and subsequently did not appear before the CIT(A) despite several opportunities.

What were the issues?

Incorrect calculation of cost of acquisition; denial of exemption u/s 54F; erroneous confirmation of additions made ex-parte; validity of proceedings initiated u/s 148; denial of natural justice.

Which sections of the Income-tax Act were involved?

Section 147,Section 144,Section 54F,Section 54B,Section 148,Section 133(6),Section 2(14)(iii)(b)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH, ‘B’: NEW DELHI

Before: SHRI CHALLA NAGENDRA PRASAD & SHRI BRAJESH KUMAR SINGH

For Respondent: Shri Rajesh Kumar Dhanesta, SR(DR)
Hearing: 19.12.2024Pronounced: 27.12.2024

PER BRAJESH KUMAR SINGH, AM,

This appeal filed by the assessee is directed against the order dated

24.07.

2023 of the National Faceless Appeal Centre, Delhi/Ld. CIT(A) Delhi,

relating to Assessment Year 2012-13 arising out of order u/s 147 r.w.s 144 of the Act dated 09.12.2019 passed by the AO.

2.

Grounds of appeal raised by the assessee are as under:-

“The CIT(A) has erred on law and on facts by confirming the A.O's findings which he has taken wrong basis of calculation of cost of acquisition. The A.O. has not got verified the market rate through its inspector but decided to take circle rate@ 20/-per sq meter without confronting the same to us.

2.

That having regards to facts and circum

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →