9911796707
TMI Blog2024 (10) TMI 1575X X X X Extracts X X X X X X X X Extracts X X X X ..... penalty order for the assessment year 2013-14 dated 12.03.2024. 3. Mr.K.Rathinavel, learned counsel for the petitioner would submit that the petitioner is a non tax payer; that the petitioner and his sister sold a vacant land through their Power of Attorney to and in favour of one Mr.Herain G.Karmavat, at the higher rate, i.e to the extent of Rs. 60,30,000/- on 20.09.2012 and the sale proceeds were equally shared by them, but, the Income Tax Department issued a notice to the petitioner on 17.05.2023, to show cause as to why, a sum of Rs. 65,40,000/- being the sale consideration received on the sale of the immovable property should be assessed as income from short term capital gain. The learned counsel contended that the petitioner is an i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s ignorant of such assessment proceedings, inasmuch as, ignorance of law is not an excuse. 5. I have given due considerations to the submissions made by the learned counsel for the petitioner and the learned Senior Standing Counsel for the respondents and perused the materials available on record. 6. On perusal of records, it is seen that the petitioner along with his sister sold out a vacant land for a total consideration of Rs. 60,30,000/-, and that the sale proceeds were equally shared between the petitioner and his sister; that so far as the petitioner's amount is concerned, the same was utilized by the petitioner for the purpose of construction of a residential house within the prescribed limitation period under Section 54 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s totally unaware of the proceedings being initiated by the respondent- Income Tax Department. That apart, the sale was made in the year 2013-14, whereas, impugned proceedings were initiated in the year 2021, therefore, the petitioner, being a non-tax payer, cannot be expected to view the Portal after a lapse of 8 eight years. Thus, the reasons assigned by the petitioner for not responding to the communications sent by the respondent- Department is genuine and reasonable. 8. Thus, this Court, in the interest of justice, is inclined to set aside the impugned orders, as the same were passed in violation of principles of natural justice, however, the same subject to the payment of Rs. 5,000/- to the Advocate Clerk Association, High Court. 9. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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