TMI Blog2021 (5) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... sthan Tax Board dated 14.08.2012. Where the stamp duty authorities have accepted the original value of the property as per the sale deed, there is no basis left with the AO to continue to apply the enhanced value and we hereby direct the Assessing Officer to consider the original value of the property as per registered sale deed @ ₹ 23,00,000/- for the purpose of Section 50C of the Act and compute capital gains accordingly. In the result, the sole ground taken by the assessee is allowed. - ITA. No. 207/JP/2019 (Assessment Years : 2009-10) - - - Dated:- 3-2-2021 - SHRI SANDEEP GOSAIN, JM AND SHRI VIKRAM SINGH YADAV, AM Assessee by: Shri Rohan Sogani (C.A.) Revenue by: Shri A.S. Nehra (ACIT) ORDER PER: VIKRAM SINGH YADAV, A.M. The assessee has filed the present appeal against the order of ld. CIT(A), Ajmer dated 14.12.2018 for the assessment year 2009-10 wherein the assessee has taken following ground of appeal:- In the facts and circumstances of the case and in law, ld. CIT(A) has erred in confirming the action of the ld. AO in taking the deemed value of the property, sold by the assesee, at ₹ 77,03,999/-. The action of the ld. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d sale deed dated 8.12.2008. However, the AO, in the first round of proceedings, considered reassessed amount of ₹ 77,03,999 as the value for the purpose of Section 50C. Order of AO dated 27.12.2011, was upheld by ld. CIT(A) in the first round of proceedings vide order dated 26.11.2012. 4. It was submitted that the buyer applied for reference before the Rajasthan Tax Board, against the order passed by Additional Collector (Order Dated 20.08.2010) enhancing the value of the property to ₹ 77,03,999/- for the purpose of Stamp Duty. Rajasthan Tax Board, vide its order dated 14.08.2012, set aside/quashed the order of the Additional Collector and pointed out the laxity in approach of Additional Collector and the field visit done for determining the enhanced value of the property. 5. The above fact of reference made by the buyer and the order of the Rajasthan Tax Board came to the knowledge of the assessee only in the form of reply received (Dated 23.07.2015) against application made by the assessee, in this regard, under the Right to Information Act, 2005. Before the ITAT, in the first round of proceedings, following documents were filed as part of the Additional Eviden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016, acknowledged the fact that Rajasthan Tax Board, vide its order dated 14.08.2012 has already set aside the order of the Addl. Collector (Stamp Duty) dated 20.08.2010 in the case of buyer for the same property and directed to delete all the outstanding demand, with regard to stamp duty, against the buyer. Also, in response to the letter issued by ld. AO, seeking information under section 133(6) in this regard, Sub-Registrar, vide its letter dated 13.12.2016, has reiterated the fact in clear terms that the value of the property, for the purpose of stamp duty valuation has been reinstated to the original amount of ₹ 23,00,000 and the earlier order determining the value of the property at 77,03,999 has been rejected. Snap shot of the letter is reproduced here under:- 10. Both the lower authorities took cognizance of the order dated 14.08.2012, passed by the Rajasthan Tax Board. However, considered the value of the property for stamp duty purposes, as per Section 50C, to be ₹ 77,03,999 instead of ₹ 23,00,000 for the sole reason that the current status of the proceedings before the Stamp Duty Authorities was not known. 11. It was submitted that the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n that the appellant has contended that Rajasthan Kar Board, Ajmer vide order dated 31.08.2012 has quashed the Collector Stamps order dated 20.08.2010. Therefore, the capital gain computed by adopting the sales consideration at ₹ 70,03,999/- should not be sustained. I have gone through the order dated 14.08.2012 of Rajasthan Kar Board, Ajmer. It can be seen that the Rajasthan Kar Board, Ajmer has Set-aside ( अपास्त) the order dated 20.08.2010 of the Collector Stamp. During the course of assessment proceedings as well as appellate proceedings (remand proceedings), the appellant was requested to give the current status of the case. In other words, the detail of the order passed to give effect to order dated 14.08.2012 of Rajasthan Kar Board, Ajmer. The appellant has not filed copy of any order passed by the competent authority to give effect to the order dated 14.08.2012 of Rajsthan Kar Board. I am of considered view that since the Rajshtan Kar Board has only set-aside the order dated 20.08.2010 of Collector Stamp, therefore, a fresh order has to be passed by the Collector Stamp to give effect to the order dated 14.08.2012 of Rajasth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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