KHEM SINGH,DELHI vs. ITO WARD 67(7), NEW DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’ NEW DELHI
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2012-13
PER SATBEER SINGH GODARA, J.M:
This assessee’s appeal for assessment year 2012-13 arises against National
Faceless Appeal Centre (NFAC) Delhi’s’ order dated 22.05.2025 [DIN & Order
No. ITBA/NFAC/S/250/2025-26/1076367673(1)] in proceedings u/s 147 r.w.s.
143(3) of the Income-tax Act, 1961, hereinafter referred to as the ‘Act’.
Heard both the parties. Case file perused.
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2. Coming to the solitary substantive issue between the parties, it transpires during the course of hearing that both the learned lower authorities have assessed long term capital gains amounting to Rs. 9,78,125/- in the assessee’s hands, in assessment order dated 31.10.2019 as upheld in the lower appellate discussion.
3. That being the case, the Revenue could hardly dispute that the learned
Assessing Officer has assessed the assessee’s 1/4th share in sale consideration as his long term capital gain without allowing any benefit of part acquisition as well as indexation thereof, as prescribed u/s 48 r.w.s. 49 of the Act. It is thus deemed appropriate to restore the instant issue back to the learned Assessing Officer for his appropriate adjudication and verification as per law preferably within three effective opportunities of hearing. Ordered accordingly.
No other ground or argument has been pressed.
4. This assessee’s appeal ITA 4548/Del/2025 is partly allowed for statistical purposes.
Order pronounced in open court on 28.08.2025. (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 28.08.2025. *MP*