TMI Blog2022 (3) TMI 1271X X X X Extracts X X X X X X X X Extracts X X X X ..... and Shareholders Pvt. Ltd. [ 2012 (7) TMI 158 - BOMBAY HIGH COURT] noted that even if no claim is made before Ld. AO, the same could be made before appellate authorities and the jurisdiction of appellate authorities to entertain such a claim has not been negated by the Hon ble Supreme Court in Goetz India Ltd. Vs CIT. [ 2006 (3) TMI 75 - SUPREME COURT] In fact, the Hon ble court has made it clear that the judgment would not impinge on the powers of Tribunal u/s 254 of the Act. Considering all these factors, the Hon ble High Court of Madras in CIT V/s Perlo Telecommunication Electronics Components India Pvt. Ltd. [ 2021 (10) TMI 236 - MADRAS HIGH COURT] dismissed revenue s appeal. Respectfully following the same, we would hold that Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by revenue to have arisen out of the sale of land. Therefore, the character of the same would remain the same i.e. agricultural income. The other grounds relating to deduction u/s 54F has been rendered infructuous. - ITA No.: 3151/CHNY/2019 And Stay Application No.71/Chny/2020 - - - Dated:- 8-3-2022 - Shri Mahavir Singh, Vice President And Shri Manoj Kumar Aggarwal, Accountant Member For the Appellant : Mr. D. Anand, Advocate For the Respondent : Mr. P. Sajit Kumar, JCIT ORDER PER MAHAVIR SINGH, VP: This appeal by the assessee is arising out of the order of the Commissioner of Income Tax (Appeals)-14, Chennai in ITA No.59/CIT(A)-14/2018-19; dated 15.10.2019. The Assessment was framed by the Income Tax Officer, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee to M/s. St. John Educational Research Trust on 28.02.2011 for a consideration of ₹ 99,85,000/-, though it is registered in the sum of ₹ 68,85,000/- as per guideline value. 3.2 The Assessee made a cash deposit of ₹ 31,00,000/- in his bank account during the previous year 2010 2011, relevant to the Assessment Year 2011 2012 but no return of income was filed. Accordingly, notice u/s.148 of the Act, dated 28.03.2018 was issued by the Assessing Officer. In consequence to this notice, the Assessee filed her return of income on 17.05.2018 admitting a total income of ₹ 3,56,080/- under the head long-term capital gains arising out of sale of the above stated agricultural land. The Assessing Officer noted that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eclared in the return could not be undone during appellate proceedings. Therefore, this plea was rejected. Proceeding further, considering the fact that the assessee admitted receipt of on-money of ₹ 31 Lacs, the same was to be assessed as income from other sources which would not be eligible for any deduction u/s 54F. Since the assessee could not file satisfactory documentary evidences towards claim u/s 54F, the same was rightly denied by Ld. AO. Aggrieved, the assessee is in further appeal before us. Our finding and Adjudication 6. Upon due consideration of material facts, the undisputed position that emerges is that what the assessee has sold is an agricultural land. In the remand report, it is the finding of Ld. AO tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Existing Local Body Existing Ward/ Division No. Assembly Constituency 191. Pillaiyar Koil Street, Periyar Street, Vethachalam Street, Village burial ground, Sai Ganesh Nagard, 3rd Street, Sai Ganesh Ngar, 25th Cross Street, Sai Ganesh Nagar, 28 Cross Street, East Pallikkaranai Lands, ESA Hostel, Jalladampettai Perumbakkam Road, Pallavan Nagar NagathAmman Koil Street, Pallavan Nagar Pillaiyar Koil Street, Puthu Nagar, 5th Street, Puthu Nagar Thiruvenkadam Street, Medavakkam Sholinganallur Road, Thiruvalluvar Nagar, Bharathiyar Street, Jalladampettai Medavakkam Link Road, Nesavalar Nagar Periyar Road, Jansi Rani Street, Jeyachandran Nagar 2nd Main Road, Aasan C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authorities and the jurisdiction of appellate authorities to entertain such a claim has not been negated by the Hon ble Supreme Court in Goetz India Ltd. Vs CIT . In fact, the Hon ble court has made it clear that the judgment would not impinge on the powers of Tribunal u/s 254 of the Act. Considering all these factors, the Hon ble High Court of Madras in CIT V/s Perlo Telecommunication Electronics Components India Pvt. Ltd. (TCA No. 413 of 2014 dated 20.09.2021) dismissed revenue s appeal. Respectfully following the same, we would hold that Ld. CIT(A) was not right in law to dismiss the otherwise eligible claim of the assessee. We order so. Accordingly, since the land sold by the assessee was an agricultural land, the same could not be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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