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2015 (5) TMI 234 - HC - Income TaxLong term capital gain working - Valuation of the property - Appellant claims that he was owner of 1/3rd share in a immovable property - penalty under section 271(1)(c) as the capital gain had been computed on inadvertent assumption that the said property had been acquired prior to 1st April, 1981, while it had in fact been acquired on 24th August, 1981 - non granting of personal hearing - Held that:- The only thing that can be said about the argument desperately canvassed before us is that the Assessing Officer did not give a personal hearing nor granted an opportunity to the Assessee before imposing penalty is that such argument is now being raised without pointing out such a defect in the Assessing Officer's order before the Tribunal. Apart therefrom, we do not find how, when the Assessing officer's order was challenged before the Commissioner and the Assessee succeeded before the Commissioner, the penalty was set aside, that from an Appeal by the Revenue against the Tribunal's order can such a ground be raised. Even if such a plea can be raised now, we do not find that there is any prejudice caused, as all the fact finding authorities have gone elaborately through the contentions raised by the Assessee. There is no miscarriage of justice. No substantial question of law - Decided against assessee.
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