DOLATRAI MANGANLAL DESAI,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-7(2)(1), AHMEDABAD

The grounds raised by the assessee in the appeal reads as under:

That the Ld. CIT(A) has erred in law and on facts while sustaining the addition made on account of capital gain of Rs.20,25,000/- by ITO, Ward-2, Vapi, which requires to be deleted. 02. That the Ld. A.O., ward-2, Vapi has erred in law and on the facts while issuing notice u/s 148 of the IT. Act, 1961 for A.Y. 2012-13 dated 29/03/2019 and therefore addition made on account of Long-Term Capital Gain of Rs.20,25,000/- is require to be deleted. 03. That the Ld. assessing officer, Ward -2, Vapi has issued notice u/s 148 without having jurisdiction and as such the proceeding initiated itself is bad in law, illegal and void.

That the appellant has furnished all the details and documents before the CIT(A) and before the assessing officer i.e. Copy of Valuation report as on 1.4.1981, Copy of Residential house purchase for Rs.9,28,800/-, plus stamp duty and registration fees for claiming deduction u/s 54F etc, however without considering the same the addition sustained by the CIT(A) is against the provision of law which requires to be deleted.

That the assessee has neither furnished inaccurate particulars of Income nor concealed any Income and as such penalty proceedings Initiated u/s 271(1)(b) may please be dropped.

That the appellant has neither committed default of Sec. 210 nor any default of advance payment of taxes and therefore unwanted interest charged u/s 234A 234B and 234C requires to be deleted.

Pertinent facts for adjudication of the appeal on hand is that the assessee has filed his return of income on 28.3.2016 for the assessment year 2012-13 before the ITO, Ward-2, Vapi.

At the outset, the ld.counsel for the assessee raised preliminary objection as to the maintainability of impugned order passed by the Assessing Officer/ITO, Ward-2, Vapi dated 27.12.2019 and consequent proceedings thereafter.