TMI Blog2017 (12) TMI 1267X X X X Extracts X X X X X X X X Extracts X X X X ..... e owner and possessor thereof in perpetuity in evidence of which the Hon'ble High Court of Andhra Pradesh in WP No. 18422 of 2006 by its order dt. 11-09-2006 directed the District Collector, RR district and MRO Balanagar to issue Pattedar Pass books and title deeds .. The fact is that there is no such order by the Hon'ble High Court and the copy of Hon'ble High Court placed on record do indicate that writ petition was dismissed with a direction to appropriate authorities to pass necessary orders on the application of petitioner within a period of four weeks from the date of receipt of copy of the order. The report of the Dy. Collector do indicate that the claim of assessee is not correct and the land is shown as Government land and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd stated to be in the ownership of assessee as per the agreement of sale. 3. Before the Ld.CIT(A), assessee contended that reopening of assessment is bad in law and further on merits that possession of land was not handed-over, there were disputes about ownership of the land, as the said land was occupied by various other organisations including Government and the original allottee, his father was no more and assessee along with his brother also should have equal shares and the entire amount cannot be brought to tax in his hand and further, since property is not in his possession, adoption of market value is also not correct. Ld.CWT(A), however, did not accept the contentions and upheld both reopening of the assessment as well as valuat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vendor and the document got registered, with the actual sale consideration of ₹ 50.00 lakhs mentioned therein. With the said information as found in search proceedings is so clear, there lies no do doubts the ownership over the land. The Agreement for Sale is very clear in proving that the assessee is sole legal heir of the original owner Sri Bharat Reddy. This declaration clearly establish that the assessee is the absolute owner of the entire property (10.00 acres) under reference, and the property comes under the purview of wealth tax, being the property located in Municipal lands and treated as non-agricultural land. The issue of absence of clear title and possession by others are not established, with the Agreement for sale being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as the submission that assessee was neither in possession of the property nor could handed over the property to the buyer. Accordingly, adoption of the value is not correct. Further, it was submitted that on the basis of the very same agreement, Income tax proceedings were also initiated for AY. 2007-08 with reference to capital gains, the matter of which was restored to the file of AO for fresh consideration and filed order in ITA No. 869/Hyd/2017 dt. 11-08-2017. 5. Ld.DR, however, relied on the orders of Commissioner of Wealth Tax and filed the statement of encumbrance on the property, wherein the agreement specially was mentioned to support that assessee is still shown as owner of the property. 6. We have considered the rival conte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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