Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 856 - ITAT CHENNAIBelated employees contribution of ESI & PF under respective statutes - HELD THAT:- We noted that this issue is now settled by the decision of M/s. Checkmate Services P.Ltd [2022 (10) TMI 617 - SUPREME COURT] Admittedly, these payments are made beyond due dates as prescribed under respective statues, which is not disputed by the assessee’s counsel. Hence, we dismiss this issue of assessee’s appeal. Assessment of capital gains on sale of agricultural land or landed property - Nature of land sold - Calculation of distance to get jurisdiction of municipality - as per section 2(14)(iii)(a) the village population is to be considered for ascertaining whether the land is capital asset or not - whether clause (a) or clause (b) to section 2(14)(iii) will apply to the present dispute? - HELD THAT:- Interpretation of provisions of section 2(14)(iii) sub-clause (a) clearly applies, in case where land falls in any area which comprised within the jurisdiction of municipality and which has population of not less than ten thousand. Hence, in the present case meaning of clause (a) to section 2(14)(iii), agricultural land in India, not being land situated within jurisdiction of municipality and which municipality has population of not less than ten thousand is to be read together. In the present case, as argued by the Sr.DR, the assessee’s case clearly falls under clause (b)(ii) to provisions of section 2(14)(iii) reason being assessee’s land is outside Hindupur Municipal limits at a distance of 4 kms measured aerially and as per provisional report of Census of India, population of Hindupur Municipality in 2011 is 151677. Hence, the AO has rightly charged assessee’s land to capital gain tax and the CIT(A) has rightly affirmed the same. Decided against assessee.
|