2017 (10) TMI 1497 - AT - Income Tax

Long Term Capital Gain - sale of agricultural land situated beyond 8 Kms from Urban Areas - HELD THAT - On last day of hearing of the assessee had withdrawn his power of attorney. The Notice which sent to the assessee is returned unserved. Therefore it is presumed that the assessee is not interested in pursuing its appeal. Respectfully following the decision in the case of CIT vs. Multiplan India Ltd. 1991 (5) TMI 120 - ITAT DELHI-D and Estate of late Tukojirao Holkar vs. CWT 1996 (3) TMI 92 - MADHYA PRADESH HIGH COURT we dismiss the appeal of the assessee for want of prosecution. Appeal of the assessee dismissed.

Summary

Issues involved:
Appeal against order of Ld. CIT(A) confirming assessment u/s 144 treating bank deposit as Long Term Capital Gain for sale of agricultural land beyond 8 Kms from Urban Areas.

Analysis:
The Appellate Tribunal ITAT Jaipur heard the appeal (ITA No. 822/JP/2012) by the Assessee against the order of Ld. CIT(A)-3, Jaipur for the assessment year 2007-08. The Assessee's grounds of appeal primarily challenged the Ld. CIT(A)'s confirmation of the Ld. AO's order, which assessed the amount deposited in the bank as Long Term Capital Gain. The Assessee contended that the deposited amount was related to the sale of agricultural land situated beyond 8 Kms from Urban Areas. The absence of the Assessee during the hearing was noted, with the Ld. AR withdrawing the power of attorney on the last hearing day, and the Notice being returned unserved. Consequently, it was inferred that the Assessee had no interest in pursuing the appeal. Citing precedents, including the decision of Delhi Bench of ITAT in CIT vs. Multiplan India Ltd. and the Hon'ble Madhya Pradesh High Court in the case of Estate of late Tukojirao Holkar vs. CWT, the Tribunal dismissed the appeal due to want of prosecution. The order was pronounced on October 27, 2017, dismissing the Assessee's appeal in ITA No. 822/JP/2012.