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2013 (5) TMI 526 - ITAT KOLKATAGain on sale of assessee's share of land - assessee received a gift of 40% undivided share in land from his father vide gift deed - whether CIT(A) erred in directing the AO to treat the sale proceeds as the Long Term Capital Gain and to allow the claim for deduction u/s 54 as claimed by the assessee - Held that:- It is an undisputed fact that the assessee received a gift of 40% undivided share in land from his father vide gift deed duly executed before the Registrar on 20.11.2007 & the said land was sold to five person on 12.12.2007 by way of a sale deed which was executed by the assessee, his father and his brother the co-owners of the said undivided land. CIT(A) will allowing the claim of assessee has relied on the order in the case of his brother who was also one of the signatory of the sale deed executed on 12.12.2007 where AO had accepted the gift of undivided share in the land of 40% to him vide gift deed dated 20.11.2007 as genuine and has held the sale proceeds to be a capital receipt form the sale of the said land and also allowed the claim for deduction u/s 54. DR could not bring any material on record to show that whether any remedial action was taken by the Department in the case of assessee's brother or not. Thus as decided in UOI vs Kamodini Dalal and Another (2000 (12) TMI 101 - SUPREME Court) that it is not open to the Revenue to accept a judgement in the case of an assessee and challenge its correctness in the case of any other assessee without just cause. In favour of assessee.
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