2005 (3) TMI 411

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..... inst the sustained addition out of capital gains at Rs. 1,65,447. 3. The AO had made total addition of Rs. 2,00,281 and the assessee had declared capital gain of Rs. 84,500 on account of sale of piece of land situated at Abadi land measuring 19,208 sq. ft. purchased at the rate of Rs. 101 per sq. ft. This land was sold by dividing it into 10 equal plots to 10 persons at a cost of Rs. 2,50,000 in .....

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..... o plot No. 75 situated just adjacent to the plot in question which measured 4,500 sq. ft and was sold for Rs. 6,000 in 1982 and computed the capital gains at Rs. 1,65,443. 4. The assessee is still aggrieved and submits that the calculation by the CIT(A), by wrongly computing and comparing the land in question with other land is not proper. The learned Authorised Representative, Shri N.R. Mertia, .....

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..... he learned parties, I am convinced by the submissions of the learned Authorised Representative to the effect that the comparison has been made of uncomparables. There is some mistake in the assumption of 10 bigas of land when the assessee has vehemently refuted that he did not purchase 10 bigas of land. There is definitely a difference of value of the agricultural land and a piece of plot, which i .....

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..... 70 15,116 Depreciation 5,293 11,822 44,557 13,015 Withdrawal for household exp. 23,311 29,956 37,500 29,590 8. The various expenses disallowed are placed at p. 2 of assessment order and the same are extracted as below: Description Claimed Disallowed Telephone and telegram (expecting 2/3 telephone expenses 29,768 4,000 Shop expenses 27,510 6,000 Diesel and petrol 24,837 5,0 .....

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..... arious consumable items are received. 12. After carefully considering rival submissions, I am of the considered opinion that despite the various claims of the assessee, withdrawals for household expenses are not sufficient. But keeping in view the overall circumstances, this addition is reduced to 15,000 instead. 13. In the result, the appeal is partly allowed.
Case laws, Decisions, Judgemen .....

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