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TMI Blog2012 (7) TMI 265X X X X Extracts X X X X X X X X Extracts X X X X ..... y the AO, by holding that the assessee had violated the conditions mentioned in the proviso to section 54F(1). However, whether or not the proviso to section 54F(1) was applicable in her case has not been examined. In these circumstances, in the interest of justice, Assessing Officer is directed to consider the entire matter de novo - Decided in favor of assessee for statistical purposes. - I.T.A. No.506/Bang/2012 - - - Dated:- 30-5-2012 - SHRI GEORGE GEORGE K, SHRI JASON P. BOAZ, JJ. Appellant By : Shri V. Srinivasan. Respondent By : Shri Farhat Hussain Qureshi. O R D E R Per Shri Jason P. Boaz : This appeal is directed against the order of the Commissioner of Income Tax (Appeals)-III, Bangalore dated 19.03. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g measuring 11,095 sq. ft. came to the appellant s possession, in accordance with the terms of the Joint Development Agreement, in the project called Mahaveer Springs. 2.2 In the course of assessment proceedings in the case of assessee s brother Sri R. Keshavaraju, it came to light that the assessee was one of the co-owners of the said property. On noticing that the assessee had not filed the return of income for the relevant period, the Assessing Officer initiated proceedings under section 147 and after recording reasons thereunder issued notice under section 148 of the Income Tax Act, 1961 (herein after referred as 'the Act') dt.25.3.2010 calling upon the assessee to file her return of income for Assessment Year 2005-06. There be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied in upholding the assessment of Rs. 1,04,40,000 as Long Term Capital Gains under the facts and in the circumstances of the appellant s case. 5. Without prejudice to the right to seek waiver with the Hon'ble CCIT/ DG, the appellant denies herself liable to be charged to interest under sections 234A, 234B and 234 C of the Act, which under the facts and in the circumstances of the appellant s case deserves to be cancelled. 6. For the above and other grounds that may be urged at the time of hearing of the appeal, your appellant humbly prays that the appeal may be allowed and justice rendered and the appellant may be awarded costs in prosecuting the appeal and also order for the refund of the institution fees as part of the cost ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s brother, to the file of the Assessing Officer with a direction to examine the matter afresh after affording reasonable opportunity of being heard to the assessee and to decide the matter in accordance with law. A copy of the said order in ITA No.953/Bang/2009 and 1063/Bang/2010 dt.17.6.2011 has been placed on record. It was contended that the assessment in the case of the assessee was based on the proceedings and assessment order in the case of her brother, Shri K. Keshavaraju. It was further contended that the assessee was entitled to exemption under section 54F of the Act which was denied by the Assessing Officer who held that she had violated the provisions of section 54F of the Act. The learned counsel for the assessee accordingly pra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o suitably respond to notices issued by the Assessing Officer was due to her ignorance of the provisions of the Act. We also find from the order of assessment that the assessee s claim for deduction under section 54F was also denied by the Assessing Officer, by holding that the assessee had violated the conditions mentioned in the proviso to section 54F(1) of the Act. However, whether or not the proviso to section 54F(1) was applicable in her case has not been examined. We also find that the case of the assessee s brother, Sri K. Keshavaraju for the relevant period, has already been remitted back to the file of the Assessing Officer by the order of co-ordinate Bench of the Tribunal (supra) for passing orders after considering the entire iss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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