9911796707
TMI Blog2021 (6) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... n the instant appeal:- (1) The order of the Ld. CIT(A) is erroneous to the extent it is prejudicial to the appellant. (2) (i) The Ld. CIT(A) erred in confirming the application of the provisions of section 50C of the IT Act and consequent addition made to the capital gain of 11,40,000/-. (ii) The Ld. CIT(A) ought to have appreciated the fact that the total consideration received was Rs. 2,60,00,000/- and whereas the market value fixed was at Rs. 2,71,40,000/- and the difference is less than 5%. (iii) The Ld. CIT(A) ought to have seen that the Assessing Officer made the addition without reference to the valuation cell as required U/s. 50C(2) of the IT Act. (3) The Ld. CIT(A) erred in confirming computation of the book profit U/s. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the papers in his table drawer and did not intimate the fact to the Managing Director of the petitioner company. In the meantime, the Income Tax Department attached the bank account and the banker intimated tht the account was attached by the Department on 27/11/2017. The petitioner could approach the Advocate on 29/11/2017 and paid the appeal fee of Rs. 10,000/-. AS the Advocate was out of station from 30/11/2017 to 03/12/2017 to 3/12/2017, the appeal papers were prepared on 4/12/2017 and the appeal fees was once again paid on 4/12/2017 as the fee paid on 29/11/2017 was under a difference head. The appeal is being filed on 5/12/2017. There is a delay of 29 days in filing the appeal before the ITAT. The delay is for the reasons submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Revenue's identical argument thereby treating the foregoing statutory provisions as a curative one. The impugned former addition of Rs. 11.40 lakhs stands deleted therefor. 6. Next comes section 115JB book profits issue vis-à-vis brought forward book loss figure difference of Rs. 2,93,631/- and Rs. 5,66,506/- as per AYs 2010-11 and 2011-12 (supra). 7. Both the Learned Representatives are ad idem during the course of hearing the instant latter issue required afresh factual verification. We, therefore, direct the assessee to appear before the Assessing Officer on or before 30/09/2021 with all relevant supportive details for the necessary consequently verification within three effective opportunities of hearing at its own risk and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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