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2014 (9) TMI 363 - HC - Income TaxMaintainability of appeal before CIT(A) - aggrieved person - Imposition of penalty u/s 271(1)(c) - Estimation of fair market value as on 01.04.1981 – Held that:- Following the decision in Sterling Machine Tools vs. Commissioner of Income Tax [1979 (10) TMI 53 - ALLAHABAD High Court] – The figure obtained from the registering authority was communicated - the assessee has given his consent to the cost of the land being ₹ 8,000/- per bigha, as on the relevant date, for the purpose of calculation of capital gains - assessee did not choose to make available any evidence in support of their contentions, which they seem to do now - when an assessment is made on the basis of the consent of the parties, in view of the provision creating the right of appeal, Section 246A in this case, unless there is any grievance for the party as such that the concession was wrongly recorded or that he was coerced into making such concession, which case also the appellants do not have in these cases; the order of the appellate authority, as affirmed by the Tribunal, that the appellants cannot be treated as aggrieved persons is not liable to be interfered with - the appellants have not made out a case for interference with the order of the CIT, as affirmed by the Tribunal. It may be true that penalty was levied in breach of the understanding between the parties - appellants seek to maintain an appeal against an assessment order, which was based on a concession relating to the fact as to the value of the property and, though with the condition that there would be no penalty proceedings, having regard to the penalty proceedings being cancelled, there is no ground for the appellants to maintain these appeals - Decided against assessee.
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