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2022 (8) TMI 1185 - AT - Income TaxValidity of Reassessment order passed against the dead person - HELD THAT:- We find that the assessee has not produced any evidence to prove that the legal heirs have intimated the AO about the demise of the assessee except for an affidavit which authorises one of the legal heirs of the assessee, Shri Dnyaneshwar Shankar Ghorpade to represent the appeals before the ITAT on behalf of the other legal heirs of the assessee. Apart from this, the assessee has failed to substantiate the fact that inspite of intimation, the AO has erred in passing the assessment order on the deceased person. In this case, during assessment proceeding, assessee was alive, notices were served on him and he replied, but before passing of the order, assessee has passed away. So it is not the case that notices have not been served on assessee. This ground of appeal warrants no merit and is hereby dismissed. Capital gain on sale of part of TDRs received by the assessee from Kulgaon-Badlapur Municipal Council (KBMC) as compensation on compulsory acquisition of assessee’s agricultural land - lower authorities have rejected the contention that the said short term capital gain was exempt under section 10(37) - HELD THAT:- Ingredients of the provision manifest that the land which is transferred should have been used for agricultural purpose two years immediately preceding the date of transfer and that the acquisition by the government bodies should have been compulsory acquisition. In the present case in hand, the assessee has failed to produce any documentary evidence to show that the land was used for agricultural purpose nor has he proved that the acquisition was compulsory. The assessee has also failed to prove the same before us as well as before the lower authorities. We do not find any justification in holding that the assessee is eligible for exemption as per the provisions of section 10(37) - Therefore, we do not find any infirmity in the decision of the lower authorities. The grounds raised by the assessee is dismissed. AO adopting the assessable value of land over value of stamp duty - cost of acquisition of TDR received by the assessee in consideration of the surrender of the said land to KBMC instead of fair market value of the TDR while computing capital gain on sale of TDR - HELD THAT:- We hereby direct the Assessing Officer to calculate the cost of acquisition for the purpose of deduction by following the decision in the case of Atul G Puranik [2011 (5) TMI 576 - ITAT, MUMBAI] - Additional ground No.2 is partly allowed.
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