SILVERTON PULP AND PAPERS PRIVATE LIMITED,MUZAFFARNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, DEHRADUN

Learned authorized representative for Department of assessee submitted that ld. CIT(A) has reasoned order. He also submitted that the addition was rightly sustained by ld. CIT(A) which order deserves to be sustained.

We have heard the parties and perused the material available on record. Claim of the assessee was that assessee had purchased agricultural land and the stamp duty was wrongly charged at the higher rate by treating the same as residential which is not correct. It was further claimed that the provisions of section 56(2)(x)(b) are not applicable to the agricultural land purchased by the assessee. The higher stamp duty was charged where the land area is between 0.00 to 0.100 hectare however, assessee had purchased more land thus such rule was not applicable and the stamp authorities have mistakenly charged higher duty. These aspects were not considered, nor any verification was done form the stamp value authorities. Thus considering the totality of the facts and circumstances of the case and in the interest of justice, we deem it proper to restore the issue to the file of the Ld. CIT(A) with a direction to consider the submissions of the assessee and make necessary verification of the claim of the assessee and decide the issue as in accordance with law. The assessee is also directed to appear and co- operate in the appellate proceedings. The grounds raised by the assessee are accordingly allowed for statistical purposes.

In the result, the appeal of the assessee is allowed for statistical purposes.