9911796707
TMI Blog2015 (1) TMI 1472X X X X Extracts X X X X X X X X Extracts X X X X ..... pies of the documents relied on by the AO which are also denied to him as stated above. As perused the sale deed dt.17-11-2006. It is clear from the recitals that property is ancestral property devolved on assessee by way of partition. In that case, the status of assessee, being HUF property or individual also required to be determined. Not only that, 1/4th of the share of the property, as can be seen from the recitals of the sale deed, pertain to his son who also became vendor No.2. When the sale deed is very clear about respective shares, how the entire amount can be brought to tax in the hands of assessee was also not explained by the AO - document of sale indicates that the property sold was agricultural land. Whether sale of agri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital gains on sale of agricultural land pertaining to assessee. 2. Briefly stated, assessee stated to be an illiterate and eking out his lively-hood by raring cattle owns a small bit of land situated at Malkapur Village, Kondapur Mandal, Medak District. On 17-11-2006, assessee and another person by name Mr. Pravin Kumar sold 30 guntas of agricultural land located at Survey No.139 of the said village for a recorded consideration of ₹ 1,50,000/-. It seems there were certain survey operations in the premises of Smt. Bhagya Lakshmi and others on 22-08-2008. Assessing Officer noticed that those people purchased property to an extent of 15.14 guntas and assessee's share of price paid by those people was at ₹ 24,91,860/- as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... placed on the Paper Book. Ld. DR however, relied on the orders of the authorities. 5. Having considered the rival contentions and perusing the orders of the authorities and the documents placed on record, we are unable to understand how the Assessing Officer can determine the sale price as income of assessee. Moreover, assessee was not aware about the statement given by the said Smt. Bhagya Lakshmi and others. It is also noticed that assessee has sold the agricultural property to one Mr. T. Chandra Sekhar and Shri V. Papaiah being the vendors. How these two are connected with Smt. Bhagya Lakshmi in the purchase of the so called 15.14 acres is not coming out of the assessment order. Not only that the basis of determining the price is als ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in the assessment. We are of the opinion that assessee should be given due opportunity. Assessing Officer should determine the correct status, shares of the assessee and the price he received so that correct capital gains can be brought to tax. Assessing Officer is directed to examine all the issues and then only complete the assessment as per facts and provisions of law. Assessee is free to raise any objections or contentions involved in the assessment procedure. 7. With these observations/ directions the orders of the authorities are set aside to decide the issue afresh and complete the assessment accordingly. 8. In the result, appeal is allowed for statistical purposes. Order pronounced in open Court on 21st January, 2015. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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