MUJIB SALMANBHAI PATHAN,,NAGPUR vs. ASSISTANT COMMISSIONER OF INOCME TAX CIRCLE -3, NAGPUR
In the result, the appeal filed by the assessee is allowed
ITA 98/NAG/2019[2015-16]Status: DisposedITAT Nagpur24 Jun 2021AY 2015-16
Bench: Shri Inturi Rama Rao, Am & Shri S. S. Viswanethra Ravi, Jm आयकर अपील सं. / Ita No.98/Nag/2019 Assessment Year : 2015-16 ......अपीलाथ" / Appellant Mujib Salmanbhai Pathan, House No.242, Ward No.2, Old Area, Wardha Road, Butibori, Nagpur-441108. Pan : Aefpp0269M. बनाम / V/S. The Asst. Commissioner Of Income Tax, ……""यथ" / Respondent Circle-3, Nagpur. Assessee By : Shri Veena Agrawal Revenue By : Smt. Agnes P. Thomas. सुनवाई क" तारीख / Date Of Hearing : 17.06.2021 घोषणा क" तारीख / Date Of Pronouncement : 24.06.2021 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) – 2, Nagpur [‘The Cit(A)’] Dated 12.03.2019 For The Assessment Year 2015-16. 2. The Appellant Raised The Following Grounds Of Appeal :- “1. On The Facts & In Circumstances Of The Case & In Law, The Learned Cit(A) Erred In Stating That The Subject, Whether Proper Approval Was Taken Before Converting Limited Scrutiny Into Complete Scrutiny Being Administrative Measure Cannot Be Taken Up. 2. On The Facts & In The Circumstances Of The Case & In Law The Learned Cit (A) Erred In Upholding The Addition Of Rs 1,00,85,013/- Made By The Ao As Income Under The Head Business & Profession Rightly Declared As Income Under The Head Capital Gains.
For Appellant: Shri Veena AgrawalFor Respondent: Smt. Agnes P. Thomas
Section 143(3)Section 54F
section 263 was not sustainable, and that, on facts, the income was required to be taxed under the head ‘Capital gains’ and not as ‘Income from business’. [Para 14]”
11. In the facts and circumstances of the present case, it does not indicate that the purchase of land was made with the intention to re-sell. The Hon’ble
Supreme
