TMI Blog2015 (7) TMI 485X X X X Extracts X X X X X X X X Extracts X X X X ..... k account. The appellant’s case is that this amount was deposited out of the sale consideration of a plot or land which was sold for ₹ 75,68,761/-. The appellant’s further case was that he had a half share and that the deposit was made from the sale proceeds received by him. The appellant also contended that this plot was purchased earlier by selling his old house for ₹ 12 lacs. As no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AZIFDAR AND G.S. SANDHAWALIA, JJ. For The Appellant : Mr. Tribhawan Singla S.J. VAZIFDAR, A.C.J. (ORAL) This is an appeal against the order of the Income Tax Appellate Tribunal dismissing the appeal against the order of the CIT (Appeals). 2. The matter pertains to the assessment year 2009-2010. The AO noticed a cash deposit in the appellant s savings bank account of ₹ 11,04 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the contention that the AO ought not to have treated the cash deposit as income without considering the cash withdrawals from the same bank. The CIT (Appeals), therefore, fairly granted the appellant relief by directing the AO to make addition of only peak of the deposits in the bank account after getting the details from the appellant. These are pure questions of fact which require the appreciat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t term capital gain. The appellant s case regarding these transactions are purely questions of fact. The CIT (Appeals) in fact again directed the AO to allow ₹ 12,85,500/- on account of cost of acquisition of the earlier property and granted the appellant relief to that extent. The cost of acquisition of the new property was, therefore, reduced from half of the sale price taxed by the AO as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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