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2019 (10) TMI 971 - AT - Income TaxCorrect amount of capital gain - sale of his land - Date of Transfer of land - the assessee claims non-accrual of capital gain in-as-much as land was under ‘dispute’ - Non receipt of consideration - fulfillment of condition of transfer u/s. 2(47) - HELD THAT:- Confirmation from PACL, the transferee, in the matter may be also useful in deciding the matter, and it is in fact surprising that no such was called for by the Revenue, or indeed furnished by the assessee himself. It may though be again clarified that in case of any inconsistency, the AO shall allow primacy to the conduct of the parties, particularly considering that the dispute with regard to the ownership of land; the same being sub judice, cannot be doubted. The assessee is toward this entitled to rely on the court orders claiming the ownership of the land forming part of ATS dated 04/12/2006. The AO shall take the same on record, and cause such verification as he may deem fit and proper under the circumstances, or necessary, to arrive at his satisfaction qua the fulfillment of the condition of transfer as afore-stated. The assessee is bound to cooperate in the said, set aside proceedings, offering explanation/s qua the factual or legal aspects of the matter, if any, as may be raised by the assessing authority. The AO, needless to add, shall observe the time limit as prescribed u/s. 153, i.e., w.e.f. 01/6/2016. Assessee’s appeal is allowed for statistical purposes.
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