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2017 (6) TMI 122 - AT - Income TaxReopening of assessment - sale of land falling within 8Kms of distance from the area limit of Municipal Corporation 'of Coimbatore thus income in the form of LTCG accrued during the year has escaped assessment - Held that:- It may be true that in returns filed assessee’s had not have made a specific claim that agricultural land sold was beyond 8 km from Corporation limit. However, the returns were filed after the above referred reply which was available with ld. Assessing Officer. In the said reply assessee had mentioned that the agricultural land was situated more than 8 Kms from the corporation limit. Further, assessee’s had pressed such a claim before ld. Commissioner of Income Tax (Appeals). Ld. Assessing Officer was aware of the claim of the assessee that land sold was agricultural in nature. It cannot be considered it as an altogether new claim made by the assessee. Assessee in pursuant to notice u/s.148 of the Act had made a specific claim that agricultural land sold were beyond 8km limit of Coimbatore Corporation limits. In the circumstances, whether surplus arising out of sale of agricultural land would be exigible to capital gains tax, in my opinion, requires to be adjudicated by the ld. Commissioner of Income Tax (Appeals). Therefore, set aside the orders of the ld. Commissioner of Income Tax (Appeals) and remit all the appeals back to his file for consideration afresh in accordance with law. Appeals of the assessee partly allowed for statistical purposes.
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