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2022 (9) TMI 704 - AT - Income TaxCapital gain computation - FMV determination - reference to district valuation officer (DVO) u/s 55A - HELD THAT:- We find that there is no dispute that the assessee has transferred the impugned land prior to 01/7/2012. The assessee while computing the capital gain adopted the fair market value then the value adopted by AO. As relying on similar ground of appeal in Kantilal Manilal Patel [2019 (7) TMI 1948 - ITAT AHMEDABAD] almost all similar fact while following the decision in CIT Vs Gauranginiben S. Shodhan, Indl. [2014 (2) TMI 78 - GUJARAT HIGH COURT] we hold that the assessee has transferred his land prior to 01/7/2012 and the amended provision of Section 55A is not applicable on the facts of assessee, thus, the reduction in the cost of acquisition on the basis of report of DVO cannot be made applicable on the assessee. Thus, the assessing officer is directed to delete the additions of long term capital - Decided in favour of assessee. Additional ground for deduction u/s 54B - As in our view the facts necessary for consideration of additional claim was available on record. Considering the fact that the assessee has raised this ground first time before the ld. CIT(A), therefore, we find merit in the submissions of ld AR for the assessee that the appellate authorities have jurisdiction to admit the additional grounds/ claim, thus, we admit the additional grounds of appeal. Our view gets support from the decision of Hon’ble Apex Court in Goetz India Ltd [2006 (3) TMI 75 - SUPREME COURT] Prithivi Brokers & Share Holders (P) Ltd. [2012 (7) TMI 158 - BOMBAY HIGH COURT]also held that Tribunal have jurisdiction to consider the additional claim and discretion to permit additional ground by way of additional claims. Such claims need not to be those which became available on account of change of circumstances of law but which was even available when return was filed - we admit the additional ground of appeal of the assessee for just decision of the case under section 54B and direct the assessing officer to examine the fact and grant the benefit to the assessee under section 54B, as per law. Ground of appeal is allowed for statistical purpose.
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