TMI Blog2020 (3) TMI 1047X X X X Extracts X X X X X X X X Extracts X X X X ..... e has gifted the properties to his son as well as to his nephew. However, the revenue authorities without taking into consideration the material evidence and explanation offered by the assessee, made the additions. Under these facts and circumstances of the case and to meet the ends of justice, we set aside the order of CIT(A) and remit the file back to the file of CIT(A) with a direction to adjudicate the issues in accordance with law and pass a detailed order after giving reasonable opportunity of hearing to the assessee. The assessee is directed to appear before the CIT(A) without fail and submit the necessary documentary evidence to substantiate his claim. We order accordingly - Appeal of the assessee is treated as allowed for statistic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, Budvel, RR Dist. 611 Sq.Yds 30,55,000 3 Part of open plot, Sy.No. 1/A/4, Shivrampally Jagir, Rajendra Nagar Mandal, RR dist. 1132 Sq. Yds 56,60,000 4 Plot No. 644, Sy.No. 86, Dandumailaram, Ibrahimpatnam, RR Dist. 536 Sq.Yds 1,60,800 5 Plot No. 62 63, Sy.No. 20, Saroor Nagar, RR Dist. 466 Sq.Yds 37,28,000 Total Value of taxable wealth 1,52,85,800 The AO observed that as per the provisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the property located at Shivrampally Jagir, the assessee stated that this property was gifted orally to his son as HIBA under Muslim Law, therefore, the property cannot be taxed in his hands. 6.1 Rejecting the explanation of the assessee, the CIT(A) observed that the assessee s stand is an after thought and an attempt to escape taxation as the assessee has not provided the date of gift, made orally, and other relevant details. He accordingly confirmed the addition. 7. In respect of the property located at Dandumailaram, the assessee stated that Dandumailaram Village falls under Gram Panchayat and is not included in GHMC Limits and argued that there is no notification of the Central Govt and the property is exempted from wealth tax. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not acceptable. 3. The Appellant has no issue with regard to the property located at Golden Heights Colony, Budvel, Ranga Reddy District. 4. The Appellants, third property (which no longer belongs to him), is being treated as taxable, under the Wealth Tax Act. The appellant has made a submission that property located at Shivrampally Jagir, Rajendra Nagar MandaI, was gifted by him to his son as HIBA under Mohammedan Law. The CIT (A) did not accept the oral HIBA, on the basis of Section 123 of Transfer of Property Act. Oral HIBA is acceptable in Mohammedan Law (Muslim Law). Thereby, this property is also liable for exemption under Wealth Tax Act. 5. The Appellant accepts that the property located at Dandumailaram Villa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... operties mentioned at 4 5 of the table (supra), the assessee has filed unregistered stamp paper, it shows that he has gifted the properties to his son as well as to his nephew. However, the revenue authorities without taking into consideration the material evidence and explanation offered by the assessee, made the additions. Under these facts and circumstances of the case and to meet the ends of justice, we set aside the order of CIT(A) and remit the file back to the file of CIT(A) with a direction to adjudicate the issues in accordance with law and pass a detailed order after giving reasonable opportunity of hearing to the assessee. The assessee is directed to appear before the CIT(A) without fail and submit the necessary documentary evi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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