AHMED ALI KHAN,TONK vs. ITO, TONK

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ITA 302/JPR/2022Status: DisposedITAT Jaipur23 February 2023AY 2010-11Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)8 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal admitted the additional ground regarding Section 50C, finding it arose from the lower authorities' orders. However, due to the assessee's non-compliance with repeated notices from the CIT(A), the matter was restored back to the CIT(A) for fresh adjudication.

What were the facts?

The assessee appealed against the CIT(A)'s order sustaining an addition on account of Long Term Capital Gain. The addition was based on the DVO's valuation of agricultural land sold and a reduction in the claimed cost of acquisition. The assessee also sought to raise an additional ground regarding the applicability of Section 50C.

What were the issues?

Whether Section 50C is applicable to the transfer of leasehold/tenancy rights in land, and whether the assessee's non-compliance warrants a fresh opportunity before the CIT(A).

Which sections of the Income-tax Act were involved?

Section 50C,Section 147

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”SMC” JAIPUR

Before: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 302/JP/2022

For Appellant: Shri Mukesh Khandelwal (CA) jktLo dh vksj ls@
For Respondent: Ms Monisha Choudhary (JCIT)
Hearing: 29/11/2022Pronounced: 23/02/2023

vkns'kkuqlkj@ By order,

सहायक पंजीकार@Aेेज. त्महपेजतंत

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