9911796707
TMI Blog2019 (1) TMI 527X X X X Extracts X X X X X X X X Extracts X X X X ..... CCOUNTANT MEMBER:- This assessee's appeal for A.Y. 2010-11, arises from order of the CIT(A), Gandhinagar, Ahmedabad dated 01-07-2014, in proceedings under section 143(3) of the Income Tax Act, 1961; in short "the Act". 2. The assessee has raised following grounds of appeal:- "1. The Id. C.I.T. (A) has erred in law and on facts in confirming the addition of Rs. 5,71,200/- made u/s. 50C of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... additional stamp duties of Rs. 13995/- for each plot on 20th July, 2009. Therefore, the assessing officer has applied the provision of section 50C of the act and computed the sale considerations according to the additional stamp duty paid by the assessee. Accordingly, an amount of Rs. 5,71,200/- was added to the total income of the assessee. During the course appellate proceedings before ld. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investment in agricultural land and investment in shares to the amount of Rs. 3,77,01,445/-. Considering the above details, the assessing officer has allowed interest expenses of Rs. 90,389/- against the interest income of Rs. 5,88,073/- and added the balance interest income of Rs. 4,97,684/- to the total income of the assessee. 4. The Ld. CIT(A) has sustained the additions made by the assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee has shown investment in agricultural land and investment in shares of Rs. 3,77,01,445/- and stated that against interest income of Rs. 5,88,073/- expenses of Rs. 90,389/- was to be allowed. In this connection, we have examined the contention of the assessee claiming that her own capital as on 31-03-2010 was to the amount of Rs. 22870663/- and investment in the fixed assets and shares and LI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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