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2023 (9) TMI 588 - ITAT JAIPURCorrect head of income - investing activity done by the assessee - business receipts or Capital Gains - contention of the assessee that the gain that he has received from the investing activity is the capital receipt/gain and shall be chargeable to tax as capital gain only - HELD THAT:- Based on this instruction issued by the CBDT vide its No. 6/2016 [ F.No.225/12/2016-ITA-III dated 29.02.2016 we observed that even the CBDT is instructing their officer that once the stand taken by the assessee shall not be disturbed by the assessing officer and here in this case the assessee has already taken a stand to offer the income under the head capital gain the same cannot be rejected without taking any reason to the assessee and the ld. AO cannot the dispute the income that has already been offered by the assessee under the head capital gain. Based on these observations the ground no. 1 taken by the assessee is allowed. Travel, stay and food expenditure reimbursed, FD maturity receipts and transferred from own other bank account were added as income in assessment order - Whether these receipts should not be included in the income? - HELD THAT:- DR not contended to these averments on facts but at the same time ld. SR. DR submitted that so far these contentions were not raised or submitted before the lower authorities, needs verification on the part of the ld. AO. She further submitted that let these receipt be verified by the ld. AO and if found in accordance with the law AO may grant the relief to the assessee after verification of evidence based on these evidences contending that the receipt is not taxable. The bench noted that the contentions raised by the assessee cannot be brushed aside and he cannot be taxed on the receipt which is the maturity amount of the fixed deposit receipt with the bank and reimbursement of the expenditure received. But since the assessee has not raised this issue before the ld. AO we admit these additional evidences and direct the ld. AO to verify the contentions of the assessee and as agreed by AO will complete the assessment after verifying the required information from the assessee and grant the relief in accordance with the law with in certain time frame. Based on these observations the ground no. 2 raised by the assessee is allowed for statistical purpose.
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