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2015 (3) TMI 56 - AT - Income TaxReopening of assessment - Computation of capital gains - information from Sub-Registrar's Office would show that the value of land as on 14.1981 is ₹ 2.46 per sq. yard instead of ₹ 8 per sq. yard taken by the assessee - Held that:- As at the time of assessment all the details have been furnished and the Assessing Officer after taking into account all the details arrived at the capital gains. Further, the computation of capital gain was subject matter of appeal before the CIT(A). The CIT(A) has passed the order and the Department has accepted the same. The original assessment was made accepting the value of land as on 1.4.1981 at ₹ 8 per sq. yard whereas the AO held that another SRO has given the value as on 1.4.1981 at ₹ 2.48 per sq. yard. However, the computation of capital gain on the sale of land had reached finality with the order of the CIT(A) dated 9.2.2008. The assessment order insofar as computation of capital gains is concerned has merged with the order of the CIT(A). Therefore, the Assessing Officer has exceeded his jurisdiction in reopening the issue which has merged with the order of the CIT(A). Thus re-assessment order dated 7.12.2009 reopened for re-working the capital gains is without jurisdiction and requires to be set aside. Once the basis for reopening does not survive other additions made in the assessment order also cannot survive. - Decided in favour of assessee.
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