9911796707
TMI Blog2020 (7) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... considered by him. As contended that even the sale instances relied upon by the assessee to justify the fair market value of the property as on 01.04.1981 taken by him were not properly appreciated either by the Assessing Officer or by the ld. CIT(Appeals) - a similar issue involved in the case of co-owner Shri Samaresh Kumar Mondal, brother of the assessee, has already been sent back by the Tribunal to the Assessing Officer for reconsideration - A perusal of the order of the Tribunal passed in the case of Samaresh Kumar Mondal, however, shows that a similar issue involved in the said case in the identical facts and circumstances was remitted by the Tribunal back to the ld. CIT(Appeals) for fresh adjudication - Appeal of the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ority was ₹ 13,02,661/-. On the basis of this information, the assessment of the assessee for the year under consideration was reopened by the Assessing Officer and a notice under section 148 was issued by him after recording the reasons. In response to the said notice, the return of income was filed by the assessee declaring total income of ₹ 5,54,325/-, which was comprising of income from salary and income from other sources. In the computation of total income, the assessee under the head capital gain had shown his share in the sale consideration of the immovable property at ₹ 13,02,661/- and after deducting the indexed cost of acquisition claimed at ₹ 16,88,927/-, long-term capital loss of ₹ 3,86,266/- was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the issue under consideration relating to the addition made by the Assessing Officer on account of long-term capital gain was not found acceptable by him, the ld. CIT(Appeals) confirmed the addition made by the Assessing Officer on account of long term capital gain. Being aggrieved, the assessee has preferred this appeal before the Tribunal. 4. I have heard the arguments of both the sides and also perused the relevant material available on record. The ld. Counsel for the assessee has submitted that the only dispute involved in the assessee s case relates to the determination of the indexed cost of acquisition of the assessee s share of property sold during the year under consideration. He has submitted that the fair market value of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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