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TMI Blog2024 (6) TMI 1228X X X X Extracts X X X X X X X X Extracts X X X X ..... /s. 143(1). 2. The grounds of appeal raised by the assessee in memo of appeal filed with ITAT, Ahmedabad Bench, Ahmadabad, reads as under:- Sl. No. Grounds of Appeal Tax effect relating to each Ground of appeal (see note below) 1 The order passed u/s 250 of 05.03.2024 by ADDL/JCIT(Appeal) - (1), Nashik, confirming addition of capital gain of Rs. 2,62,383/- is wholly illegal, unlawful and against the justice. Rs. 2,62,383/- 2 The Ld. ADDL/JCIT (A)-1, Nashik has - grievously erred in law and or on facts in not considering fully and properly the submissions made with evidence. Rs. 2,62,383/- 3 On the facts and circumstances of the case the Ld. ADDL/JCIT (A)-1, Nashik erred in not considering LTCG of Rs. 2,53,211/- already of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adjustment that there is inconsistencies in amount mentioned at serial no. 5(d) in any other item of income in part A-Other Income of return and amount mentioned in clause 16(d) of the tax audit report. 4. Aggrieved, the assessee filed first appeal with the office of ld. CIT(A), Addl/JCIT(A) and raised the grievance vide grounds of appeal filed before the ld. Addl/JCIT(A) wherein it is stated that the addition made by CPC of Rs. 3,89,431/- is wholly illegal and unlawful and against principles of natural justice, and stated that income was added twice. The assessee claimed that the said income has been offered for taxation in the return of income filed with Revenue, and CPC has made double addition. The assessee has claimed that in tax aud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or taxation of Rs. 2,53,211/- in the return of income filed did not matched and there is inconsistency between the Tax-Audit Report and ITR. Since the amount was not matched, the Addl/JCIT was of the view that the entire amount of Rs. 2,62,383/- is chargeable to tax although he has himself observed that the assessee has declared long term capital gain of Rs. 2,53,211/- in the return of income filed with the Department. Later, the assessee filed an application u/s. 154 for rectification of mistake on 27th March, 2023 with the office of Addl./JCIT(A) explaining that Rs. 2,53,211/- has already been offered for taxation under the head long term capital gain and the audit report is showing LTCG of Rs. 2,62,383/- and at best the addition of Rs. 9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... une of Rs. 9,172/- being the differential amount between reported by tax auditor as LTCG and declared by the assessee in its return of income as LTCG. Thus, in nutshell both the parties are at consensus/ad-idem that an income by way of LTCG to the tune of Rs. 9172/- could be added. Thus, after hearing both the parties and perusing the materials available on record, I observe that the Ld. Addl./JCIT(A) erred in making addition of Rs. 2,62,383/- towards long term capital gain as reported in clause16(d) of the tax audit report , while the fact of the matter is that the assessee has duly declared long term capital gain of Rs. 2,53,211/- in the return of income filed by the assessee with department and paid due taxes on the same, and at the best ..... X X X X Extracts X X X X X X X X Extracts X X X X
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