9911796707
TMI Blog2013 (5) TMI 662X X X X Extracts X X X X X X X X Extracts X X X X ..... t the rate of Rs. 130 must be reckoned as the basic price as on 1.4.1981. At best, that may apply even to the case of the petitioner. Suffice it to observe that the assumption of the Income Tax Officer of rate in respect of the said land as Rs. 180.07 per square yard, is a non-existent fact. Thus understood, the impugned show cause notice issued to the petitioner cannot be taken forward and for the same reason, the reasons recorded on 23rd February, 1996 deserves to be quashed and set aside. In favour of assessee. - CWP No. 358 of 1997 - - - Dated:- 9-5-2013 - A. M. Khanwilkar And Mr. R. B. Misra,JJ. For the Petitioner : Mr. M.M. Khanna, Senior Advocate with Ms. Ambika Kotwal, Advocate. For the Respondent : Mr. Vinay Kuthi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of Sh. Sunil Albert, the CIT(A) has held in the increase of 52.5% in cost of land on account of stated compensation advantages as unjustified and cost was at Rs.130/- per sq. yard as on 1.4.1981 as against Rs.180.07 per sq. yard taken by the assessee. Further the registered valuer was not competent to value the land in question, because the same is agricultural land. The valuation of agriculture land can only be made by the Tehsildar of the area. In another case of Smt.Vibha Arihan W/o Sh. Dinesh Arihon, Airport Road, Totu, Shimla who is also co-sharer of the same land. The I.T.O. Ward-4, Shimla had made a reference to the Tehsildar, Shimla for valuation of the land. The Tehsildar, Shimla determined the cost of land at Rs.2,000/- per Bi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dispute. As the decision in the case of Vibha Gupta was the basis to reopen the assessment of the petitioner, as noted in the show cause notice and the reasons recorded and since that basis has become non-existent because of the supervening circumstance of the decision of the appeal-Authority, which has noted in its decision, that the rate of Rs. 130 must be reckoned as the basic price as on 1.4.1981. At best, that may apply even to the case of the petitioner. Suffice it to observe that the assumption of the Income Tax Officer of rate in respect of the said land as Rs. 180.07 per square yard, is a non-existent fact. Thus understood, the impugned show cause notice issued to the petitioner cannot be taken forward and for the same reason, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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