9911796707
TMI Blog2023 (4) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... appreciating the facts of the appellant and without considering the directions given by the CIT(appeals) while granting appeal effect and by simply re-producing the facts mentioned in the original assessment order. 2. He has erred in law and on facts in observing that the A.O. has complied with the directions of CIT(appeals) before passing the order and the appellant was given sufficient opportunity to produce the evidence to prove that the property did not belong to him in as much as that no sufficient opportunity was granted and the assessee has furnished the evidence in support of the claim but not considered by the A.O. 3. He has wrongly described the assessee as she and wrongly mentioned the assessed income at Rs. 93,14,200/-. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls) and making no independent inquiries required as per Law. 9. Without prejudice to the above grounds, he has erred in law and facts in not considering the facts of adopting cost of indexation by taking valuation as on 01/04/1981. 10. On the facts of the appellant the long term capital gain of Rs.42,97,000/- erroneously computed ought not to have been treated as income of the appellant. 11. On the facts no interest u/s. 234A, 234B and 234C of the Act ought to have been levied. 12. On the facts the returned income of Rs. 1,35,820/- ought to have been accepted in toto. 13. The appellant craves leave to add to alter and/or to modify any ground of appeal." 3. Return of Income declaring total income of Rs. 1,35,820/- was filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee that the assessee is a sole proprietor of M/s. Lakhai Brothers was wrongly taken by the Assessing Officer. The assessee has not dealt with the said property in the individual capacity and therefore, the addition can be made in assessee's hand. The Ld. A.R. further submitted that the Assessing Officer has not taken cognizance that the property does not belong to assessee and no opportunity to produce the evidences were granted to the assessee. The Ld. A.R. further submitted that the property for which capital gain has been computed was purchased from M/s. Lakhia Brothers which was a partnership firm. The Ld. A.R. further submitted that the Assessing Officer totally ignored the evidences filed by the assessee especially the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
