Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 1281 - AT - Income TaxRevision u/s 263 - CIT-A revising the assessment order framed u/s.143(3) r.w.s. 147 - nature of land sold by assessee that being agricultural land or not? - HELD THAT:- Admittedly, the assessee has carried out agricultural activity which is assessee’s family traditional vocation. It is clear that in the sale deed the properties clearly defined as agricultural land in the schedule of property. Even the AO during original assessment proceedings noticed the chitta and adangal i.e., records for the relevant Fasli year and same was accepted by the AO during assessment proceedings. The assessee has cultivated this land and grown paddy from 2001 to 2004 and for this produced a copy of the adangal record for S.No.255 & 256 issued by the Tehsildar office, Solinganallur Taluk, Kancheepuram Dist. The assessee’s land is agricultural land and he has cultivated till 2004 but sold this land in 2005. Even otherwise the AO has considered all these documents and formed an opinion that the land sold is agricultural land. Now, the PCIT want to review the order on same set of facts, which according to us is not permissible under law. The AO has taken one view and that is the only permissible view in view of the above given facts that the land sold by assessee is agricultural land and we find no error in the assessment order or prejudicial in the assessment order to the Revenue. Hence, we reverse the revision order passed by PCIT and uphold the assessment order - Appeal of assessee allowed.
|