Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (2) TMI 213 - ITAT DELHIAddition as long term capital gains and addition as agricultural income - eligibility of exemption u/s 54 - co-ownership in land - HELD THAT:- What we understand is that the family sold the impugned land. Being the daughter of the family, the assessee also received 1/5th share, but out of sheer love and affection, she gave her share to her brother The fact of payment to Brother has also been mentioned by the AO in the assessment order. Rs. 47 lakhs was given to Anshu. The lady says that her brother has since deceased and, therefore, she has no evidence with her, as her sister-in-law does not allow her to enter the house. Although the Assessing Officer has mentioned the names of all the co-owners and has computed the capital gains on the total land holding and attributed 1/5th share to the assessee, but nowhere he has mentioned the status of assessment in the hands of the co-owners. The appellant lady before us stated that her brother has purchased some agricultural land out of the consideration given by her but showed her inability to furnish documents as the same are available with her sister-in-law who does not allow her to enter into the house. On such peculiar facts of the case, bank account of the assessee has been freezed by the officers, making her life more miserable. We do not want the illiterate lady to suffer in the hands of the revenue but at the same time we also feel helpless as we cannot do anything for this illiterate lady. In the interest of justice and humanity, we restore the issue to the file of AO to verify the status of the assessment/appeal of the co-owners as mentioned by him in his assessment order. AO is also directed to verify from the sister in law [wife of the deceased brother of the assessee] whether the deceased had purchased agricultural land out of consideration received from the assessee. AO must exercise all his powers to get information from that lady and if he finds that the brother had purchased agricultural land from the sale consideration given by the assessee, then allow claim of exemption u/s 54.
|