TMI Blog2014 (6) TMI 222X X X X Extracts X X X X X X X X Extracts X X X X ..... us, the matter is remitted back to the AO and the assessees are directed to produce a certified copy of the Lok Adalat Award dated 8.12.2012 before the AO – Decided in favour of Assessee. - ITA No. 864/Mds/2014 & S.P. No. 136/Mds/2014, ITA No. 865/Mds/2014 & S.P No. 137/Mds/2014 - - - Dated:- 23-5-2014 - Dr. O. K. Narayanan And Shri Vikas Awasthy,JJ. For the Appellant : Dr. Anita Sumanth, Advocate For the Respondent : Shri. Guru Bashyam, IRS, JCIT ORDER Per Vikas Awasthy, Judicial Member The assessees have filed appeals against the orders of the Commissioner of Income Tax (Appeals)-II, Coimbatore dated 26.02.2014 relevant to the assessment year 2009-10. The assessees in appeal are husband and wife. Since the iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax (Appeals), the assesees have come in second appeal before the Tribunal. 3. Dr. Anita Sumanth, Advocate appearing on behalf of the assessees submitted that the transaction of sale of land has been cancelled by the Lok Adalat Award dated 08.12.2012. Since there is no sale transaction there is no question of Capital Gains and the provision of Sec. 50C cannot be invoked on cancelled transaction. The learned Counsel further submitted that the assessees have applied for cancellation deeds and the same shall be produced as and when the same is received. The ld. Counsel produced a photocopy of the Lok Adalat Award, Tirupur Taluk dated 08.12.2012. 4. On the other hand, Shri. Guru Bhasyam, representing the department vehemently suppo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Lok Adalat is deemed to be a decree of a Civil Court. In view of the fact that the sale deeds have been declared as null and void by the award of Lok Adalat, we are of the considered opinion that there is no further requirement for seeking cancellation deeds. Before us, the learned Counsel has produced a photocopy of the award. We remit the issue back to the Assessing Officer and direct the assessees to produce a certified copy of the Lok Adalat Award dated 8.12.2012 passed in Lok Adalat Case No.99/2012 between Mrs. Savitha Mohanraj vs. M/s. Ponmudi Muthusamy Gounder Trust, before the Assessing Officer. The Assessing Officer after verifying the award shall pass necessary order, in accordance with law. 7. The appeals of the assessees a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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