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2022 (1) TMI 934 - AT - Income TaxAdmission of additional evidence - AO objected to the admission of additional evidences and CIT(A) confirmed the addition of short term capital gain - Despite accepting that assesses claim should be accepted as long term capital gain, in the concluding portion Ld.CIT(A) has confirmed the addition as short term capital gain. - HELD THAT:- AO has not commented upon the additional evidences. Ld. CIT(A) is taking cognizance of the addition evidences and has observed assessee’s claim should be accepted as long term capital gain. However, he has concluded that assessment as short term capital gain is confirmed. Hence, the order of Ld.CIT(A) is contradictory. Furthermore, assessee has submitted a valuers report regarding the valuation and cost of improvement, which have been rejected by the Ld.CIT(A) without AO’s comment or any cogent reasoning. Hence, on the facts and circumstances of the case, in the interest of justice, the issues raised in the appeal are remitted to the file of AO. The AO shall consider the issue afresh after giving the assessee proper opportunity of being heard. The Ld. Counsel of the assessee has undertaken to cooperate before the AO in the assessment. Appeal by the assessee stands allowed statistical purposes.
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