9911796707
TMI Blog2023 (8) TMI 435X X X X Extracts X X X X X X X X Extracts X X X X ..... dismissed the above appeal of the assessee for default vide order dated 18.9.2018. Thereafter, the assessee had filed a Misc. Application No. 29/Ahd/2021 seeking recall of this order on the ground that the assessee was prevented by sufficient reasons in not attending the hearing before the Tribunal. After hearing both the sides, the Tribunal recalled its impugned ex parte order dated 18.9.2018 (supra) vide order dated 10.2.2022 and the appeal of the assessee was placed for de novo hearing. Accordingly the matter came up before us for fresh adjudication. 3. Brief facts relating to the case is that in the return of income filed for the year, the assessee had returned capital gain on account of sale of an alleged residential property being pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowing grounds before us: 1. In law and in the facts and in the circumstances of the case of the appellant, learned Assessing officer had erred in concluding that the property, i.e. residential house in Urmi Co-op. Housing Soc. Limited, is transferred during the previous year relevant to A. Y. 2012-13 and not A. Y. 2013-14, and Hon. CIT (Appeals) has also erred in confirming the same. 2. In law and in the facts and in the circumstances of the case of the appellant, learned Assessing Officer had erred in holding that the possession of the property sold by the appellant had been transferred to the purchaser of the property on the date of executing the registered sale deed i.e. 27th February. 2012 and Hon. CIT (Appeals) has also erred in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in not appreciating that even if the appellant had transferred a plot of land, he would have been eligible for exemption u/s. 54F in respect of amount invested by him in a new residential house and not granting the legitimate benefit available to the appellant, as per his own understanding about the property sold by the appellant. 6. On the facts and in the circumstances of the case, the learned Assessing Officer has erred in charging interest under Section 234B and 234D of the Act. 7. In law and in the facts and circumstances of the appellant's case, the learned Assessing Officer has grossly erred in initiating penalty proceedings u/s. 271(1)(c) of the Act. 8. The appellant craves leave to add, alter, amend and/or withdraw any ..... X X X X Extracts X X X X X X X X Extracts X X X X
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