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TMI Blog2021 (7) TMI 1235X X X X Extracts X X X X X X X X Extracts X X X X ..... in the category of ceiling, nazul or leasehold. Therefore, what is transferred by the assessees as per sale deed dt. 26th May 2004 is the ownership of the land for a consideration of ₹ 9,50,000/- whereas the land was valued for stamp duty purpose at ₹ 53,00,000/-. Neither the AO has conducted any inquiry regarding any change in the status of the land in question after the same was purchased in the year 1961 till it was sold in the year 2004 nor the assessee has brought on record any material to say that the land still remains Bhumidari land and the assessee was having only a tenancy rights in the land in question. Therefore, this factual aspect is required to be verified after conducting a proper inquiry particularly from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8.2019 for the A.Y. 2005-06. 2. In ITA No. 161/Alld/2018 the assessee has raised following grounds:- (i) because the CIT (A) has erred in law and on facts in confirming that the provisions of Section 50 (C) are applicable. (ii) Because the CIT (A) has erred in law and on facts in confirming LTCG at ₹ 5,59,445. (iii) Because the CIT(A) has erred in law and on facts in confirming addition of ₹ 10,000 as other Income. (iv) Because the order appealed against is contrary to law, facts and principles of natural justice. 3. Ground nos. 1 2 are regarding the addition made by the Assessing Officer under Section 50C of the Income Tax Act in respect of sale of land by four co-owners. The assessee sold immovabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) 2003 (94) RD 122. The Ld. AR has also referred to the sale-deed dated 27th May 1961 vide which the land was purchased by the assessee family. 5. The Ld. AR has referred to the provisions of the UP Zamidari Abolition and Land Reforms Act, 1951 and submitted that as per Section 4 the owner of the land is the State Government and Bhumidari Right is only tenancy right. Therefore, the Bhumidar is only a tenant and not an owner of the land. He has then, referred to the decision of the Kolkata Benches of the Tribunal Dt. 27th Feb, 2012 in case of CIT Vs. Tejinder Singh in ITA No. 1459/Kol./2011 and C.O. No. 62/Kol/2011 and submitted that the Tribunal held that as in case of transfer of lease holdland the provisions of Section 50C are not appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the State Government. Hence, the assessee has transferred only the tenancy rights in the land. In support of his contention the assessee has referred to the sale deed dt. 27th May, 1961 whereby the land was purchased by the family of the assessee. There is no dispute that if the land is a leasehold land and the assessee is not having the absolute ownership but only having the right to use the land for specific purpose then transfer of such a right in the land would amount to transfer of tenancy right and not the ownership. However, in the case in hand as per the sale deed dt. 26th May 2004 the parties have specifically stated that the land in question is free from any encumbrance and does not fall in the category of ceiling, nazul or lease ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee s appeal is dismissed being not pressed. 9. In ITA No. 133/Alld/2018 , the assessee has raised the following grounds.- (i) Because the CIT(A) has erred in law and facts in confirming that the provision of Section 50(C) are applicable. (ii) Because the CIT(A) has erred in law and on facts in confirming the adoption of rate @ ₹ 45 per sq. Yard Instead of FMV as on 1.4.81 @ ₹ 74 per sq. yard. (iii) Because the CIT(A) has erred in law and on facts in confirming LTCG at ₹ 7,31,867. (iv) Because the CIT(A) has erred in law and on facts in confirming addition of ₹ 36,450 as Other Income. 10. Ground nos. 1 3 is regarding addition made by the Assessing Officer by invoking the provisions of S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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