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TMI Blog2022 (11) TMI 1102X X X X Extracts X X X X X X X X Extracts X X X X ..... resent appeal filed by the assessee for the assessment year 2014-15 is directed against the order of Ld. CIT(A), Haldwani dated 22.06.2018. 2. The assessee has raised following grounds of appeal: "1. The Ld Income Tax Officer (ITO) without going into the facts of the case has made additions aggregating to Rs.32,31,049.00. 2. The Ld ITO has completed the assessment without giving a satisfacto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/- on 30.11.2014. The return was processed u/s 143(1) of the Income Tax Act, 1961 ("the Act") . Subsequently, the information was received that the assessee had purchased certain immovable properties. Therefore, the case of the assessee was re-opened u/s 147 of the Act and a notice u/s 148 of the Act was issued on 04.07.2016 to the assessee after obtaining the necessary approval from the Competen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sustained the addition and dismissed the appeal of the assessee. 5. Aggrieved against the order of Ld.CIT(A), the assessee preferred appeal before this Tribunal. 6. At the outset, Ld. Counsel for the assessee submitted that the authorities below failed to consider the objection of the assessee that the immovable properties as transferred was not falling within the definition of 'Capital asset' a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed its character of being agriculture. 7. Ld. Sr. DR opposed these submissions and supported the orders of the authorities below. 8. We have heard Ld. Authorized representatives of the parties and perused the material available on record and gone through the orders of the authorities below. We find that before the lower authorities, the objection of the assessee was regarding the applicability o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eedless to say that the AO would afford adequate opportunity to the assessee to prove his claim that the immovable properties that were sold by him during the year under consideration did not fall within the definition of capital asset as provided u/s 2(14) of the Act. Thus, grounds raised by the assessee are allowed for statistical purposes. 9. In the result, the appeal of the assessee is allowe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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