ELAVANCHALIL ABDUL BASHEER,KOZHIKODE vs. ITO, WARD-2(2), KOZHIKODE
In the result, the appeal filed by the assessee stands allowed
ITA 310/COCH/2024[2020-2021]Status: DisposedITAT Cochin14 May 2025AY 2020-2021
Bench: Shri Inturi Rama Rao, Am & Shri Sandeep Singh Karhail, Jm Assessment Year: 2020-21 Elavanchalil Abdul Basheer .......... Appellant Oittannmakm, Koduvally, Kozhikode 673572 [Pan: Bbwpb4939D] Vs. The Income Tax Officer, Ward-2(2), Kozhikode .......... Respondent Appellant By: Shri C.B.M. Warrier, Ca Respondent By: Shri Sanjit Kumar Das, Cit-Dr Date Of Hearing: 27.03.2024 Date Of Pronouncement: 14.05.2024 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 23.02.2024 For Assessment Year (Ay) 2020-21. 2. Brief Facts Of The Case Are That The Appellant Is An Individual Deriving Income Under The Head ‘Agriculture’. The Return Of Income For Ay 2020-21 Was Filed On 21.12.2020 Declaring Income Of Rs. 4,60,00,000/-. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Ward-2(2), Kozhokode
For Appellant: Shri C.B.M. Warrier, CAFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(3)Section 2(14)(iii)
26,920/-. The balance amount of Rs. 4,55,83,080/- was brought to tax as short term capital gains.
4. Being aggrieved, an appeal was filed before the CIT(A), contending that the subject lands were agricultural lands and not capital asset within the ambit of section 2(14)(iii) of the Act and the appellant also produced
