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2021 (7) TMI 1180 - AT - Income TaxCapital gain on the sale of agricultural land - computation of capital gain by adopting the rate as on 1.4.1981 - benefit of 54B - HELD THAT:- It is the duty of the revenue, which is a state within the meaning of Article 12 of the Constitution of India, to treat the citizens equally, without discrimination and at par. In the present case the lands of Village Bhokhra were acquired and the compensation were granted to various parties, including the assessee before us. Uniform land rate as applicable on 1.4.1981, were required to be applied for the purpose of computing long capital gain, in respect to all the land holders, unless some special rates were shown to be applicable, as the A.O. had not referred the matter to DVO under section 55A of the ACT. No dissimilarity had been brought to the notice by the ld. DR between the assessee before us Sh. Paramjit Singh' and Sh. Mander Singh where in higher rates of ₹ 70,000/- to ₹ 85,000/- per kanal were applied by AO/CIT(A). It was also not disputed that the land of these assessee were also acquired under the same proceedings and was situated in the same village. We set aside the order passed by the CIT (A) and A.O. and remand the matter back the matter to the file of the assessing officer with the direction to apply the average of rates i.e. ₹ 77, 500/- per Kanal as were applied to in the matter of 'Sh. Paramjit Singh' and Sh. Mander Singh(supra) and work out the LTCG and thereafter grant the benefit of 54B to assessee before us, Needless to say this exercise shall be carried out after following the principle of natural justice and affording the opportunity of hearing to the assessee/s. Appeals of the assessee are allowed for statistical purposes.
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