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TMI Blog2020 (7) TMI 277X X X X Extracts X X X X X X X X Extracts X X X X ..... o restore the entire quarrel to the files of the AO. The assessee is directed to furnish all those documents before the AO and the AO is directed to decide the issue fresh after considering the documents and after giving a reasonable opportunity of being heard to the assessee. - Appeal filed by the assessee is treated as allowed for statistical purpose. - ITA No.4377/DEL/2017 - - - Dated:- 8-7-2020 - Shri N.K. Billaiya, Accountant Member And Shri Kuldip Singh, Judicial Member For the Appellant : Sh. Avdhesh Bhatnagar, Advocate For the Respondent : Sh. Jagdish Singh Dahiya, Sr. DR. ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred the order of the CIT(Appeals), Faridabad dated 19.04.2017 per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cost ₹ 5,00,000/- on estimated basis by stating subject to change and not considered market value as on 01-04-1981 of agricultural land old house. 4. That the Ld. Commissioner of Income Tax (Appeals) and the Ld. Assessing Officer have erred in calculating correct taxable income and correct indexed cost of agricultural land and old house inherited from parents. 5. That the Ld. Commissioner of Income Tax (Appeals) is not right in conforming the impugned order framed by the Assessing Officer who has not considered the deductions/ exemptions allowable under the head Capital gain. 6. That having regards to the facts and circumstances of the case, the learned commissioner of Income Tax (Appeals) is not right in confirmin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... information received from Sub Registrar, Ballabgarh, Faridabad the AO came to know that there was transfer of land to M/s. BPTP Ltd. and its group concerns. It came to the notice of the AO that the assessee and others on 07.06.2007 received total ₹ 15,26,50,000/- as sale consideration of their land from M/s. Green Valley Housing Development Private Limited. According to the AO out of this sale consideration the assessee shares comes to ₹ 2,18,17,708/-. The AO was of the opinion that since the land in question was situated within Municipal Limits of Faridabad. Therefore, it is a capital asset chargeable to tax u/s. 45 (5) of the Act. 4. Accordingly, notices were issued and served upon but no one attended the assessment procee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Before the CIT(Appeals) the assessee trusted his counsel to furnish necessary documentary evidences before the CIT(Appeals). 7. Some documents were submitted as additional evidences. The CIT(Appeals) called for a remand report. On merits of the addition the CIT(Appeals) observed as under :- 14. Ground Nos. 5 6 deal with the fact that the AO made addition of ₹ 2,13,17,710/- on account of capital gain. The Ld. AR has not made any written submissions on the merits of the additions made. The written submissions were filed in on 26.07.2016 wherein the Ld. AR had submitted that the submissions of this Ground will be submitted next week. Subsequently the Ld. AR has filed an affidavit on 01.08.2016 in DAK however no written submissio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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