TMI Blog2022 (5) TMI 138X X X X Extracts X X X X X X X X Extracts X X X X ..... luk, as the Tribunal in that matter has remanded the matter back to the file of the AO, taking a consistent view, we also restore this issue back to the file of the AO with identical directions. The issue on merits is kept open. Hence, this appeal of assessee is allowed for statistical purposes. Whether this is agricultural land or land liable to wealth tax in term of Section 2(ea) of the Wealth Tax Act, 1957? - Since the matter is restored back to the file of AO in the income tax proceedings, the matter relating to wealth tax in these two appeals is also restored back to the file of the AO. In case, the land is agricultural land in term of section 2(ea) of the WT Act, wealth tax will not be levied and in case it is an asset in term of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agricultural land or not, as claimed by assessee before him. The ld.counsel for the assessee took us through the first ground in Ground Nos.2 3 raised before us which reads as under:- 2. The CIT(Appeals) erred in rejecting the fresh claim backed by the evidence filed before him was wrongly adjudicated and ought to have appreciated that the proceedings before him should be construed as continuation of assessment proceedings thereby vitiating the findings recorded in page 7 of the impugned order. 3. The CIT(Appeals) failed to appreciate that the original asset/transferred asset should be reckoned as exempted asset within the scope of section 2(14) of the Act and ought to have appreciated that the issue relating to the claim of de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the land in question is agricultural land The CIT(A) noted that the assessee is making a fresh claim and he observed as under:- the assessee has not claimed in the return of income that the land sold is agricultural land and hence the gains is exempt u/s. 2(14) of the Act. The assessee has not admitted any agricultural income in any of the previous years (at least the past three years) from the above land. The above claim was also not made initially when the scrutiny proceedings were commenced. As such any fresh claim can not be made without revising the return of income filed. It is only when the show cause notices informing the assessee about withdrawal of his claim of deduction u/s.54F, the assessee has made a fresh claim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d exemption u/s.2(14) of the Act and the assessee filled following details but the AO rejected the assessee s claim that the assessee has sold agricultural land. 1. Xerox copy of the certificate issued by Head Quarters Deputy Tahsildar, Sriperumpudur. 2. Xerox copy of the certificate issued by President No.127, Panruti Village and Census Records extract. 3. Chitta and Adangal issued by the Village Administration Officer, Panruti. 4. Revised statement of income for the A.Y.2013-14. 3.2 The ld.counsel for the assessee filed copy of Tribunal order in ITA No.2626/Chny/2017, order dated 11.07.2018 in the case of Smt. Majeeda Shahida Begum and stated that the assessee s another family member has sold exactly adjacent l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our notice dt.l1.12.2015 and noted the contents and in that connection, we wish to state as follows: We have received documents/records from the client, due to recent floods our office is worst affected. We are recovering all documents/records using room heaters/ hot air blowers etc. We are facing uphill task since our office is submerged with 5 feet water for two days. We request you to give us two week's time to recover the documents/records. We regret the inconvenience caused to you If the land sold by the assessee was indeed agricultural in nature, gains arising from such sale would not be exigible for capital gains tax, since agricultural land is not a capital asset under Section 2(14) of the Act. We are of the opinion that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udur Taluk, Kanchipuram District and the adjacent land sold by assessee s family member Smt. Majeeda Shahida Begum having same address No.127, Panruti Village, Sriperumpudhur Taluk, as the Tribunal in that matter has remanded the matter back to the file of the AO, taking a consistent view, we also restore this issue back to the file of the AO with identical directions. The issue on merits is kept open. Hence, this appeal of assessee is allowed for statistical purposes. WTA Nos.61/CHNY/2017 75/CHNY/2018 6. Coming to Wealth Tax Appeals in WTA Nos.61/CHNY/2017 75/CHNY/2018, whereas only dispute is as regards to this land, whether this is agricultural land or land liable to wealth tax in term of Section 2(ea) of the Wealth Tax Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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