9911796707
TMI Blog2021 (7) TMI 1225X X X X Extracts X X X X X X X X Extracts X X X X ..... . We are of the considered view that the chargeability of capital gain tax under such circumstances is a debatable issue. We further find that the appellant claim is well supported by the certificate of the Tehsildar, Sohna which was also confirmed by the A.O. in his remand report. Hon'ble Supreme Court in the case of Reliance Petro Chemicals Limited [ 2010 (3) TMI 80 - SUPREME COURT] has held that merely making an incorrect claim would not tantamount to furnishing of inaccurate particulars unless it was established that appellant had acted with mala fide intention. In totality in the light of certificates of the Tehsildar, Sohna we are of the considered view that the CIT(A) has rightly deleted the penalty levied u/s. 271(1)(c) of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... penalty of ₹ 17179745/-. 6. Matter was strongly agitated before the CIT(A). It was strongly contended that when the assessee sold the impugned piece of agricultural land said land was beyond the distance of 8 KMS from the municipal limits and this was confirmed by the Tehsildar of Sohana. The CIT(A) called for remand report from the A.O. and the A.O. vide his report dated 25.01.2016 submitted that the Tehsildar, Sohna had certified the certificate issued by his office were authenticated. 7. After considering the facts and the submissions the CIT(A) observed as under:- 3.8 I have carefully considered the appellant's submissions. The additions in this case, on which penalty has been levied, were made on account of the fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stance of more than 10 Km from the Municipal limits of Gurgaon prior to the notification No. 18/1/19/2008-3CL dated 02/06/2008 and it was only after the revised notification issued by the municipal corporation that the distance came to be less than 8 Km from the municipal limits. The issue whether the distance of the area y/here the subject land on which capital gains are to be computed was located has to be considered on the date of CBDT notification No. 9447 dated 06/01/1994 or on the date of sale is a debatable issue. 8. After making the above mentioned observations and drawing support from several judicial decisions the CIT(A) deleted the penalty levied by the A.O. 9. Before us the DR strongly supported the findings of the A.O. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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