9911796707
TMI Blog2018 (6) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... held there was no occasion to bring these fact on record - hence the issue is remitted back to the file of AO for completeness of the information also assessee shall be provided adequate opportunity of being heard - Assessee's appeal allowed for statistical purposes. - ITA No.160/Ran/2015 - - - Dated:- 28-5-2018 - SHRI N.S.SAINI, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER For The Assessee : Shri S.K.Poddar Devesh Poddar, Adv. For The Revenue : Shri P.K.Mondal , JCIT ORDER Per Pavan Kumar Gadale, JM: This is an appeal filed by the assessee against the order of CIT(A), Jamshedpur, dated 28.09.2015, for the assessment year 2010-2011. 2. The assessee has raised the following ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... negotiate and to finalize sale with other party but, not to receive any consideration in his name. Sri Gyan Chand Mahto, Power of Attorney holder sold land to other party and collected total consideration value in his name without intimating the appellant company. 5. For that POA sold this land subsequently on 29.3.2010 to M/s Adarsh Sahkari Grih Nirmani Swablambi Samity Ltd. for a consideration of ₹ 1,69,97,500/-. The Ld. AO computed Short Term Capital Gain in the hands of the appellant being the difference between the sale consideration shown in subsequent Deed of Sale less ₹ 78 lacs value for which appellant purchased the land. 5 For that appellant had not received any consideration from sale of land by Power of Attorne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act, dated 18.03.2013. 4. Aggrieved by the assessment order, the assessee has filed an appeal with the CIT(A). In the appellate proceedings the assessee argued the grounds and reiterated the submissions made before the AO. The CIT(A) after considering the submissions of assessee and the findings of AO, partly allowed the appeal of the assessee. 5. Aggrieved by the order of CIT(A), the assessee has filed an appeal before the Tribunal. 6. Ld. AR before us submitted that the CIT(A) has erred in confirming the addition made u/s.69 of the Act. Ld. AR further submitted that the assessee has purchased the land from Sri Mihir Mahto through Power of Attorney for consideration of ₹ 78,00,000/- vide sale deed dated 28.07.2009 and exe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deed dated 27.02.2013, which is placed at pages 53 to 58 of the paper book. Further ld. AR submitted that a civil suit has been filed before the Civil Judge, Senior Division II, Seraikella-Kharsawan in TS No.18/2010, dated 30.11.2015, copy of which is placed at 59 to 75 of the paper book, where the sale deed was cancelled and the final order has been passed in favour of the assessee. On the query from the bench to the ld. AR as to whether these facts were brought to the knowledge of the lower authorities, ld. AR submitted that the civil suit was filed subsequent to passing of the order of CIT(A), therefore, there is no occasion to place these details before the CIT(A), whereas ld.DR vehemently objected that these are the new facts and evid ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
