TMI Blog2017 (6) TMI 122X X X X Extracts X X X X X X X X Extracts X X X X ..... was situated more than 8 Kms from the corporation limit. Further, assessee’s had pressed such a claim before ld. Commissioner of Income Tax (Appeals). Ld. Assessing Officer was aware of the claim of the assessee that land sold was agricultural in nature. It cannot be considered it as an altogether new claim made by the assessee. Assessee in pursuant to notice u/s.148 of the Act had made a specific claim that agricultural land sold were beyond 8km limit of Coimbatore Corporation limits. In the circumstances, whether surplus arising out of sale of agricultural land would be exigible to capital gains tax, in my opinion, requires to be adjudicated by the ld. Commissioner of Income Tax (Appeals). Therefore, set aside the orders of the ld. Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... presentative submitted that ld. Assessing Officer had specifically mentioned the property sold to be within 8 kms from the Corporation limit of Coimbatore. As per ld. Authorised Representative assessee s had on 06.05.2015, replied to the above said notice, pointing out that the lands sold were agricultural in nature and situated beyond 8kms of the Corporation limit. As per ld. Authorised Representative, however inadvertently, assessee s while filing their returns of income, had failed to mention this fact. Nevertheless, according to him, during the course of assessment proceedings, assessee s had clearly stated that the land sold was agricultural in nature and gains therefrom not exigible to capital gains tax. As per ld. Authorised Represen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4. I have considered the rival contentions and perused the orders of the authorities below. Reasons given by the ld. Assessing Officer for reopening the assessment reads as under:- During the AY assessee has jointly sold an immovable property (land) situated at S.F.No.324/2, Patta No.233 to the extent of 4.78 acres in Perurchettipalayam village, for sale consideration of 71,70,000/- to M/s. Amresh Holdings Private Limited, Coimbatore through power of attorney arrangements. M/s. Amresh Holdings Private Limited is a company engaged in the business of developing real estate and it has purchased this land to construct residential/commercial establishments. Further the said land is falling within 8Kms of distance from the area li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee had mentioned that the agricultural land was situated more than 8 Kms from the corporation limit. Further, assessee s had pressed such a claim before ld. Commissioner of Income Tax (Appeals). Ld. Assessing Officer was aware of the claim of the assessee that land sold was agricultural in nature. I cannot consider it as an altogether new claim made by the assessee. Coming to the judgment of Apex Court in the case of Goetze (India) Ltd (supra) relied on by the ld. Commissioner of Income Tax (Appeals) for rejecting the claim of the assessee, what I find is that the said judgment does not impinge on the power of the appellate authority for considering a fresh aground raised by the assessee. That apart, as already mentioned by me, asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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