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2023 (11) TMI 97 - ITAT SURATInequality in Computation of LTCG - AO took only sale consideration from the seized material AND not cost of acquisition - AO accepted cost of acquisition with indexation filed in original return of income filed u/s 139 - As argued when sale consideration of a capital asset is taken by the assessing officer from the seized documents, then cost of acquisition should also be accepted which is mentioned in the seized documents to compute long term capital HELD THAT:- We note that an "apple-to-apple" comparison is often needed in legal cases to ensure that similar facts and circumstances are being considered when making legal decisions. This principle is closely related to the concept of fairness in adjudication. The legal systems aim to treat similar cases similarly to ensure fairness and consistency in the application of the law. In case of ‘equity and justice’ an "apple-to-apple" comparison helps to ensure that the legal outcome is just and equitable. If different standards are applied to similar cases, it can result in unequal treatment under the law. In the assessee`s case under consideration, as observed that in order to compute the long term capital gain (LTCG), AO took sale consideration from the seized material, however, the cost of acquisition of the said asset was also mentioned in the seized material, but the AO has not taken into account to compute LTCG, which is not tenable. It creates inequality in the computation of LTCG, as when the sale consideration and cost of acquisition, both are mentioned in the seized material, then in that circumstances the Assessing Officer has to consider both to compute LTCG. Therefore, the approach of the Assessing Officer to take the sale consideration from seized material and cost of acquisition from assessee`s return of income, is not acceptable, as it creates discrimination in the computation of LTCG - addition made by AO should be deleted. Decided in favour of assessee.
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