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2012 (10) TMI 659 - AT - Income TaxAddition on account of long term capital gain – compulsory possession - dispute pending before HC - Held that:- the provisions of section 2(47) (iii) and (v) section 45(5) would not apply in the case of the assessee - Merely because full consideration has been received by the assessee on account of agreement to sale by itself is no ground to charge capital gains - Since the conditions of above provisions are not fulfilled in the case of the assessee, therefore, the ld. CIT(A) rightly held that no capital gain is chargeable to tax - assessee made investment in agricultural land and residential house in terms of section 54B and 54F - assessee would be entitled for deduction on account of capital gains - In favor of assessee Addition on account of income from other sources – deposit made in the bank account of the assessee in cash – Held that:- Assessee in the cash flow statement claimed benefit each received by both of his brothers, but admittedly, no evidence was produced before the authorities below to support such contention - no evidence was produced before the authorities below that the brothers of the assessee have given these amounts to the assessee for depositing in the bank account of the assessee - CIT(A) further gave benefit of current income of Rs. 25,500/- in which we do not find any infirmity - assessee would be entitled for reduction of Rs. 25,500/- out of the total addition - appeal of the Revenue is partly allowed
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