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TMI Blog2025 (3) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... otality of the facts of the case and in the interest of justice, we deem it proper to restore the issue to the file of the Ld. CIT(A) / NFAC with a direction to grant one final opportunity to the assessee to substantiate his case by filing the requisite details and decide the issue as per fact and law. The assessee is also hereby directed to make his submission, if any, before the Ld. CIT(A) / NFAC on the appointed date. Appeals filed by the assessee are allowed for statistical purposes X X X X Extracts X X X X X X X X Extracts X X X X ..... nsfer of same land. 3. He further noticed that the assessee has claimed the exemption u/s 54B on account of purchase of agricultural land in relevant year, however the capital gain on the transfer of asset is arisen on date of transfer of assets as on 20/01/2011 vide JV Agreement. Thus, the assessee has purchased the agricultural land beyond the period of two years from the date of transfer of original asset as mandated by the provisions of Section 54B of the IT Act. In view of the above facts, the assessee is not entitled for the claim of deduction/exemption u/s 54B as the investment is made beyond the period of two years from the date of transfer of original asset. Therefore, the jurisdictional assessing officer formed belief that income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... djudicating the appeal on merits. Sr. No. Nature of Addition Amount 1 Disallowance of exemption claimed U/Sec.54B of the Act Rs. 1,05,92,146/- TOTAL Rs. 1,05,92,146/- 2. The Learned CIT(A) failed to appreciate that it was incumbent upon him to verify whether proper notices had been served before passing an ex-parte order. Therefore, the appellant prays that the order passed by the CIT(A) be set aside. 3. The Learned CIT(A) further erred in summarily dismissing the appellant's appeal on merits, solely relying on the AO's observations in the assessment order, without conducting an independent examination of the case or providing proper reasoning. 6. Identical grounds have been raised in ITA No.2789/PUN/2024 fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opportunity to substantiate his case by filing the requisite details before the Ld. CIT(A) / NFAC. Further, the Ld. CIT(A) / NFAC has not decided the issue on merit as required u/s 250(6) of the Act. He accordingly submitted that the matter may restored to the file of the Ld. CIT(A) / NFAC. 8. The Ld. DR on the other hand heavily relied on the orders of the Assessing Officer and the Ld. CIT(A) / NFAC. He submitted that the Assessing Officer has given valid reasons for rejecting the claim of exemption u/s 54B of the Act since the assessee has not filed any documentary evidence. Further, despite number of opportunities granted by the Ld. CIT(A) / NFAC, he did not make any submission, therefore, in absence of any further evidence, the order o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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