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218 results for “capital gains”+ Section 143(3)clear

Sorted by relevance

Mumbai6,138Delhi4,044Bangalore1,500Kolkata1,474Ahmedabad1,307Chennai1,295Jaipur940Hyderabad772Pune655Indore492Surat443Chandigarh410Visakhapatnam298Cochin293Karnataka247Raipur218Rajkot209Nagpur187Amritsar136Lucknow123Agra121Guwahati97Panaji88Calcutta82Dehradun78Ranchi61Cuttack59Jodhpur55Patna54Jabalpur52SC38Telangana38Allahabad30Varanasi22Kerala12Rajasthan6Punjab & Haryana5Orissa5Andhra Pradesh2Himachal Pradesh2Gauhati1K.S. RADHAKRISHNAN A.K. SIKRI1ASHOK BHAN DALVEER BHANDARI1

Key Topics

Section 143(3)96Addition to Income71Disallowance55Section 271(1)(c)48Section 26332Section 143(2)30Section 14A30Depreciation30Section 14729Deduction

RAHUL BAJPAI,IDGAH CHOWK vs. ACIT CIRCLE 1(1), SHRI RAM PLAZA

In the result, appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 348/RPR/2023[2014-2015]Status: DisposedITAT Raipur20 Jan 2025AY 2014-2015

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.348/Rpr/2023 "नधा"रण वष" / Assessment Year: 2014-15 Rahul Bajpai Idgah Chowk, Bilaspur Chhattisgarh-495 001 Pan: Aexpb4410L .......अपीलाथ" / Appellant बनाम / V/S.

For Appellant: Shri R.B Doshi, CA
Section 143(2)Section 143(3)Section 147Section 148Section 250Section 56(2)(vii)

143(2) was issued on 28/08/2015 and served fixing the case for hearing on 21/09/2015. Notice under section 142(1) along with questionnaire issued and order sheet entries which are placed on record. 2. xxxxxxxxxxxxxx 3. During the year under consideration, assessee has sold two pieces of land for sale consideration price of Rs.51,60,000/- and 14 Rahul Bajpai

Showing 1–20 of 218 · Page 1 of 11

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Section 14826
Section 80I20

M/S FOOD HEALTH PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, the assessee's appeal in ITA No

ITA 37/RPR/2022[2017-18]Status: DisposedITAT Raipur17 Aug 2023AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Ravi Agrawal, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 10(37)Section 105Section 143(3)Section 263Section 96

Section 105(3) of the RFCTLARR Act 2013, as per which only First, Second and Third schedules applied to the “Fourth Schedule” Acts. Based on his observations above, Pr. CIT held a conviction that as the A.O by failing to appreciate the provisions of the RFCTLARR Act 2013, had wrongly accepted the assessee’s claim for exemption of capital gain

M/S HERITAGE BUILDCON PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1,, RAIPUR

In the result, the assessee's appeal in ITA No

ITA 35/RPR/2022[2017-18]Status: DisposedITAT Raipur17 Aug 2023AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Ravi Agrawal, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 10(37)Section 105Section 143(3)Section 263Section 96

Section 105(3) of the RFCTLARR Act 2013, as per which only First, Second and Third schedules applied to the “Fourth Schedule” Acts. Based on his observations above, Pr. CIT held a conviction that as the A.O by failing to appreciate the provisions of the RFCTLARR Act 2013, had wrongly accepted the assessee’s claim for exemption of capital gain

M/S RAIPUR REALITY PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, the assessee's appeal in ITA No

ITA 36/RPR/2022[2017-18]Status: DisposedITAT Raipur17 Aug 2023AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Ravi Agrawal, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 10(37)Section 105Section 143(3)Section 263Section 96

Section 105(3) of the RFCTLARR Act 2013, as per which only First, Second and Third schedules applied to the “Fourth Schedule” Acts. Based on his observations above, Pr. CIT held a conviction that as the A.O by failing to appreciate the provisions of the RFCTLARR Act 2013, had wrongly accepted the assessee’s claim for exemption of capital gain

JAI GURUDEV INFRASTRUCTURE PVT. LTD,BILASPUR vs. PR. CIT, BILASPUR

In the result, the appeal of the assessee is allowed

ITA 65/RPR/2020[2015-16]Status: DisposedITAT Raipur14 Oct 2021AY 2015-16

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./I.T.A. No. 65/Rpr/2020 अपील िनधा"रण वष" वष" / Assessment Year : 2015-16) (िनधा"रण िनधा"रण िनधा"रण वष" वष" Jai Gurudev Infrastructure Pvt Ltd, Principal Commissioner Of बनाम/ बनाम बनाम बनाम C-11, Netaji Complex, Jarhabhata, Income-Tax, Vs. Bilaspur, Chhattisgarh Bilaspur "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccj 1895 R .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri Sunil Kumar Agrawal, Ca अपीलाथ" ओर से /Appellant By : Shri P.K. Mishra, Cit-Dr ""यथ" क" ओर से/Respondent By : 29.07.2021 सुनवाई क" तारीख / Date Of Hearing 14.10.2021 घोषणा क" तारीख /Date Of Pronouncement आदेश/O R D E R Per Pradip Kumar Kedia - Am:

For Appellant: Shri P.K. Mishra, CIT-DRFor Respondent: 29.07.2021
Section 142(1)Section 143(2)Section 143(3)Section 263Section 43CSection 44A

3. Briefly stated, the assessee company, in the Assessment year 2015-16 in question, filed the return showing income at Rs.2,74,670/-. The return so filed was selected for “limited scrutiny’ assessment under CASS and consequently notices under Section 143(2) and 142(1) were issued. In the course of the assessment, the Assessing Officer found that the actual

SHRI SOMNATH SAHU,RAIPUR vs. INCOME TAX OFFICER, WARD 2(1), RAIPUR

In the result, appeal of the assessee in ITA No

ITA 243/RPR/2017[2008-09]Status: DisposedITAT Raipur23 Sept 2022AY 2008-09

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 243/Rpr/2017 & 52/Rpr/2018 "नधा"रण वष" / Assessment Year : 2008-09 Shri Somnath Sahu, H. No.2382, Near Shitala Mandir, Tatibandh, G.E. Road, Raipur (C.G.) Pan : Gdkps5958G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-2(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By :Shri Prafulla Pendse, Ar Revenue By :Shri G.N Singh, Sr. Dr

For Appellant: Shri Prafulla Pendse, ARFor Respondent: Shri G.N Singh, Sr. DR
Section 147Section 148Section 151Section 154Section 234B

143(3), dated 28.03.2016 brought to tax the long-term capital gain (LTCG) of Rs.95,41,384/- on sale of the land in question to tax in the hands of the assessee. 5. Aggrieved, the assessee carried the matter in appeal before the CIT(Appeals) but without any success. 6. The assessee being aggrieved with the order

SHRI SOMNATH SAHU,RAIPUR vs. INCOME TAX OFFICER, WARD 2(1), RAIPUF

In the result, appeal of the assessee in ITA No

ITA 52/RPR/2018[2008-09]Status: DisposedITAT Raipur22 Sept 2022AY 2008-09

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 243/Rpr/2017 & 52/Rpr/2018 "नधा"रण वष" / Assessment Year : 2008-09 Shri Somnath Sahu, H. No.2382, Near Shitala Mandir, Tatibandh, G.E. Road, Raipur (C.G.) Pan : Gdkps5958G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-2(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By :Shri Prafulla Pendse, Ar Revenue By :Shri G.N Singh, Sr. Dr

For Appellant: Shri Prafulla Pendse, ARFor Respondent: Shri G.N Singh, Sr. DR
Section 147Section 148Section 151Section 154Section 234B

143(3), dated 28.03.2016 brought to tax the long-term capital gain (LTCG) of Rs.95,41,384/- on sale of the land in question to tax in the hands of the assessee. 5. Aggrieved, the assessee carried the matter in appeal before the CIT(Appeals) but without any success. 6. The assessee being aggrieved with the order

SHRI RAMDEV MANDHANI, HUF,RAIPUR vs. INCOME TAX OFFICER - 3(2), RAIPUR

In the result, the appeal of the assessee is allowed

ITA 19/RPR/2021[2016-17]Status: DisposedITAT Raipur21 Oct 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./I.T.A. No. 19/Rpr/2021 अपील िनधा"रण वष" वष" / Assessment Year : 2016-17) (िनधा"रण िनधा"रण िनधा"रण वष" वष" Ramdev Mandhani Huf, Income Tax Officer-3(2), बनाम/ बनाम बनाम बनाम C-295, Shailendra Nagar, Raipur Vs. Raipur, Chhattisgarh - 492001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaghr 5208 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R.B. Doshi, Ar अपीलाथ" ओर से /Appellant By : Shri P.K. Mishra, Cit-Dr ""यथ" क" ओर से/Respondent By : 29.07.2021 सुनवाई क" तारीख / Date Of Hearing 21.10.2021 घोषणा क" तारीख /Date Of Pronouncement आदेश/O R D E R Per Pradip Kumar Kedia - Am:

For Appellant: Shri P.K. Mishra, CIT-DRFor Respondent: 29.07.2021
Section 143(3)Section 263Section 54

capital gains have been claimed correctly. The assessment was completed under Section 143(3) of the Act allowing the deductions

SHRI VIJAY TONDON,RAIPUR vs. INCOME TAX OFFICER, WARD-3(1), RAIPUR

In the result, the assessee's appeal is allowed in terms of our observations above

ITA 93/RPR/2022[2013-14]Status: DisposedITAT Raipur24 Aug 2023AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 93/Rpr/2022 "नधा"रण वष" / Assessment Year : 2013-14 Shri Vijay Tondon, H.No.34, Sector-1, Shankar Nagar Road, Gitanjali Nagar, Raipur-492 001 (C.G.) Pan : Abupt1550H .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-3(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri Sakshi Gopal Agrawal, CAFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(3)Section 144Section 147Section 148Section 54

section from the income from Capital gains. Therefore, I have reason to believe that the above sum of Rs.85,00,000/-, chargeable to tax, has escaped assessment for A.Y 2013-14 by reason of the failure on the part of assessee to disclose fully and truly all material facts necessary for its assessment for AY 2013-14. Raipur (Amrit Kumar

M/S M/S GOYAL CONSTRUCTION COMPANY, RAIPUR,RAIPUR (CG) vs. THE INCOME TAX OFFICER, 3(1),RAIPUR, RAIPUR (CG)

In the result, appeal of the assessee is partly allowed for statistical purposes in terms of my aforesaid observations

ITA 17/BIL/2017[2012-13]Status: DisposedITAT Raipur24 Jan 2023AY 2012-13

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No. 17/Rpr/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/S. Goyal Construction Company Shop No.213-214, Ii Floor, Crystal Arcade, Lodhipara Chowk, Raipur (C.G.) Pan : Aaffg9964N .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-3(1), Raipur (C.G.). ……""यथ" / Respondent

For Appellant: Shri Sunil Kumar Agrawal &For Respondent: Shri Piyush Tripathi, Sr. DR
Section 143(2)Section 143(3)Section 4Section 80I

143(2) was issued), the territorial jurisdiction of ITO, Ward-1(3), Raipur was as under (relevant extract): 28 M/s. Goyal Construction Company Vs. ITO-3(1), Raipur 5. Income Tax Officer- (1) All persons [other than companies and 1(3), Raipur BPL-W-85- other than those assessable by 3 DCIT/ACIT-1(1) Raipur] whose total income includes (a) Income

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 45/RPR/2018[2014-15]Status: DisposedITAT Raipur29 May 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Piyush Tripathi, Sr. DR
Section 133ASection 143(2)Section 144Section 40A(3)Section 68Section 69C

capital gain (LTCG) on sale of 18,98,410/- land by the assessee firm which was claimed as exempt. 10 Five Star Construction Company Vs. DCIT-1(1), Bhilai Accordingly, the A.O after making the aforesaid additions /disallowances vide his order passed under Sec.144 r.w.s. 143(3), dated 31.12.2016 assessed the income of the assessee firm

SURESH CHAND SURANA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-4(1), RAIPUR

In the result, appeal of the assessee is allowed

ITA 25/RPR/2021[2016-17]Status: DisposedITAT Raipur06 Sept 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No. 25/Rpr/2021) ("नधा"रण वष" / Assessment Year : 2016-17)

For Appellant: Shri R. K. Singh, CIT.DR
Section 143(3)Section 263Section 54ESection 54F

capital gains in the ratio of cost of new asset to the net consideration received on transfer is not chargeable to tax. The benefit was intended for investment in one residential house within India. Accordingly, it is proposed to amend the aforesaid sub-section (1) of section 54 so as to provide that the rollover relief under the said section

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR vs. SHRI RAKESH SINGH, RAIPUR

In the result, the appeal of assessee is allowed for statistical purposes

ITA 231/RPR/2019[2015-16]Status: DisposedITAT Raipur20 Sept 2022AY 2015-16

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.231/Rpr/2019 (ननधाारण वषा / Assessment Year :2015-2016) Acit-3(1), Raipur Vs Shri Rakesh Singh, A-4, Mahaveer Singh, Tagore Nagar, Raipur (C.G.) Pan No. : Acwps 6453 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. राजस्व की ओर से /Revenue By : Shri G.N.Singh, Sr. Dr ननधााररती की ओर से /Assessee By : None सुनिाई की तारीख / Date Of Hearing : 28/07/2022 घोषणा की तारीख/Date Of Pronouncement : 21/09/2022 आदेश / O R D E R Per Arun Khodpia, Am :

For Appellant: NoneFor Respondent: Shri G.N.Singh, Sr. DR
Section 142(1)Section 143(2)Section 143(3)Section 54Section 54F

143(2) and questionnaire u/s 142(1) were issued to the assessee, in response to which the assessee filed his written submissions. During the course of assessment 2 proceedings, the AO found that the assessee has shown the house property income at Rs.70,019/-, income from long term capital gain at Rs.19,80,027/- and income from other sources

RAJESH CHAND SURANA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR

In the result, appeal of the assessee is allowed

ITA 45/RPR/2021[2016-17]Status: DisposedITAT Raipur14 Oct 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri N.K. Choudhryassessment Year: 2016-17

For Appellant: Shri R.B. Doshi, C.AFor Respondent: Shri P.K. Mishra, CIT D.R
Section 143(3)Section 263Section 54ESection 54F

Capital Gain has been claimed correctly 4. The assessment was framed under section 143(3) of the Act, wherein, returned

DILIP SANGOI,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR

In the result, appeal of the assessee is allowed

ITA 34/RPR/2021[2016-17]Status: DisposedITAT Raipur29 Sept 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri N.K. Choudhryassessment Year: 2016-17

For Respondent: Shri R.K. Singh, CIT D.R
Section 143(3)Section 263

section 143(3) of the Act dated 24.10.2018. The PCIT called for the examination of assessment records and was of the opinion that the assessment order so passed is erroneous in so far it is prejudicial to the interest of the revenue for the reasons that the A.O. has failed to make proper enquiries in respect of nature & character

ARVIND SANGOI,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR

In the result, appeal of the assessee is allowed

ITA 33/RPR/2021[2016-17]Status: DisposedITAT Raipur29 Sept 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri N.K. Choudhryassessment Year: 2016-17

For Respondent: Shri R.K. Singh, CIT D.R
Section 143(3)Section 263

section 143(3) of the Act dated 24.10.2018. The PCIT called for the examination of assessment records and was of the opinion that the assessment order so passed is erroneous in so far it is prejudicial to the interest of the revenue for the reasons that the A.O. has failed to make proper enquiries in respect of nature & character

ASSISTANT COMMISSIONER OF INCOME TAX-1(1),, RAIPUR vs. SHRI SHARAD GOEL, RAIPUR

In the result appeal of the revenue stands dismissed, in terms of our observations herein above

ITA 93/RPR/2020[2011-12]Status: DisposedITAT Raipur07 Jul 2023AY 2011-12

Bench: SHRI RAVISH SOOD (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

For Respondent: Smt. Ila M. Parmar, CIT-DR
Section 250(4)Section 45(3)

143(3) was also incorporated in the paper book of the assessee at page 132 to 140), the claim of the assessee regarding Profit on sale of agricultural land Rs. 5,77,59,138/- exempt from tax u/s 10 was very much there in the computation of total income, thus the allegation of the Ld AO for reopening the case

SHUBH KARAN MAHNOT, AMBIKAPUR,AMBIKAPUR vs. INCOME TAX OFFICER, WARD-AMBIKAPUR, AMBIKAPUR

In the result, the appeal of the assessee is partly allowed/allowed for statistical purposes in terms of the aforesaid observations

ITA 155/RPR/2023[2018-19]Status: DisposedITAT Raipur29 Nov 2023AY 2018-19

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 155/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 Shubh Karan Mahnot Prop. M/S. Bikaner Agencies, Tulshi Chowk, Near Primary School, Gangapur, Ambikapur (C.G.)-497 001 Pan : Aalhs2528G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward- Ambikapur (C.G.) ……""यथ" / Respondent

For Appellant: Shri G.S. Agrawal, CAFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(1)Section 143(2)Section 143(3)Section 40A(3)

143(3B) of the I.T. Act 1961. AO has made following additions in the assessment order: 1. Electricity charges paid to Chhattisgarh state electricity board Rs.3,63,642/- 2. Salary to staffs Rs. 6,36,020/- . 3. Godown Rent Rs. 3,84,000/-. Total addition Rs.13,83,662/-. On scrutiny AO has found that these expenses have been paid

RAIPUR REALTY PVT LTD, RAIPUR,RAIPUR vs. INCOME TAX OFFICER WARD-3 (1), RAIPUR, RAIPUR

In the result, appeal of the assessee is allowed

ITA 241/RPR/2024[2017-18]Status: DisposedITAT Raipur08 Oct 2025AY 2017-18

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.241/Rpr/2024 "नधा"रण वष" / Assessment Year : 2017-18 M/S. Raipur Realty Pvt. Ltd. E-76, G.K. Chambers, Sector-2, Devendra Nagar, Raipur (C.G.) Pan: Aahcr0621C ........अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer Ward-3(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri Ravi Agrawal, CAFor Respondent: Dr. Priyanka Patel, Sr. DR
Section 10(37)Section 143Section 263Section 96

Capital Gains of ₹ 53,08,113/- pertaining to compensation received towards compulsory acquisition of his agricultural land and paid taxes to the tune of ₹ 24,30,521/-. The income tax return of the assessee was processed on 3-1-2021 by the Central Processing Centre, Bengaluru and intimation order was issued exercising powers under Section 143

RAIPUR SECURITIES AND INVESTMENT LIMITED,RAIPUR vs. INCOME TAX OFFICER, WARD 3(1), RAIPUR

In the result the appeal of the assessee is allowed on legal issue

ITA 164/RPR/2018[2014-15]Status: DisposedITAT Raipur25 May 2022AY 2014-15

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 164/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Raipur Securities & Investment Ltd. Mig 21, Indravati Colony, Raipur (C.G.) Pan : Aaccr4419F .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-3(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Ms. Puja Bajaj, ARFor Respondent: Shri G.N Singh, DR
Section 143(3)Section 271(1)(c)

143(3) at Rs. 10,62,666/-, The addition made by the AO is on account of long term capital gain on sale of land. In the assessment order, the AO observed that the appellant has sold a piece of land but capital gain thereon was not disclosed in the return and that during assessment proceedings, the appellant offered capital