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2018 (12) TMI 1555 - AT - Income TaxReopening of assessment - reason to believe with AO of escaping the assessment at the time of issuing of the notice - addition on sale of agriculture land - whether land sold by the assessee is not a capital asset as it is an agricultural land? - Held that:- For holding whether the impugned land is a capital asset or not the distance of this land has to be measured only from municipal limit of Ghaziabad and not from Loni. As it has been stated by the learned commissioner appeals that the distance from the Ghaziabad Ministry per limit of the impugned land is 17.5 km and therefore it is not a capital asset and capital gain is not chargeable on sale of this agricultural land. In the remand report, also it is apparent that the impugned land is situated beyond 8 km from Ghaziabad Nagar Nigam. Ide - impugned land sold by the assessee is not a capital asset as it is situated beyond 8 km from the outer limit of the Ghaziabad Nagar Nigam. Hence, no capital gain is chargeable in the hands of the assessee on sale of the impugned agricultural land. - Decided in favour of assessee. For reopening of assessment assessing officer is correctly initiated the reopening of the assessment because the assessee has sold a impugned land and no return of income has been filed. In view of this the learned assessing officer has reasonable believe that income of the assessee has escaped the assessment. - decided against assessee.
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