TMI Blog2022 (9) TMI 518X X X X Extracts X X X X X X X X Extracts X X X X ..... tional evidence - CIT(Appeals) has power to admit the additional evidence before him which goes to the root of the issue and cannot reject the evidence merely on technicality of Rule 46A. In our considered view, there was sufficient and reasonable cause for the assessee in producing the confirmations before the AO. We therefore admit these additional evidence and remit the issue to the AO for verification of the confirmations from the 3 parties and decide the allowability of the claim in accordance with law, after providing opportunity of being heard to the assessee. Landscaping and other expenses claimed - Documents now produced in the form of additional evidence in support of the landscaping and other expenses requires verification by the AO and for this purpose, we remit this issue to the AO for consideration of the AO and decision in accordance with law, after reasonable opportunity of being heard to the assessee. Expenses at the time of purchase, landscaping and other expenses claimed in the computation of capital gains for the year under consideration, we notice that the assessee has claimed 100% of the above expenses. Since only 50% of the total sale proceeds is o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... LTCG on sale of Hemmigepura Lands and the same being opposed to law and facts is liable to set aside. . 4. The Learned First Appellate Authority erred in upholding the disallowance of the deduction of Rs.1,62,84,358/- u/s 54B of the Act disregarding the facts that the lands sold by the Appellant were agricultural land as contemplated u/s 2(14) of the Act and as such the same is liable to set aside. 5. The Learned First Appellate Authority erred in upholding the disallowance of deduction of Rs. 1,94,20,600/- u/s 48(ii) of the Act made by the AO with complete disregard to facts and circumstances of the case, the law relevant and as such the same is liable to set aside. 6. The Learned First Appellate Authority erred in upholding the disallowance of deduction of Rs. 60,000/- u/s 48(i) of the Act towards the professional fee and hence the same is liable to set aside. 7. The Learned First Appellate Authority erred in upholding the disallowance of deduction of Rs. 17,452/- u/s 48(ii) of the Act being the alleged difference in the indexation cost of the Stamp Duty paid even when the claim made by the Appellant was correct and hence liable to set aside. 8. The Learned First A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tural land for a total consideration of Rs.10 crores and 50% of the consideration is offered to tax in the year under consideration vide Sale Deed executed on 14.8.2014. The assessee also submitted that the other 50% of the consideration was received during the AY 2013-14 and the possession of half of the land was handed over on 13.4.2013 (pg.245 of PB). It was further submitted that the assessee has purchased agricultural land on 23.5.2013 for a consideration of 1.64 crores and claimed deduction u/s. 54B for AY 2015-16. 8. The AO during the course of assessment noticed that besides the deduction u/s. 54B, the assessee had claimed certain other deductions. The AO called upon the assessee to submit the details pertaining to expenses claimed as deduction and after considering the submissions of the assessee, he proceeded to disallow the deduction u/s. 54B and also the expenses as the assessee could not furnish any evidence. The AO also made an addition towards unexplained cash deposits into the bank of Rs.1,56,48,700. Aggrieved, the assessee preferred an appeal before the CIT(Appeals), who confirmed the order of the AO, against which the assessee in appeal before the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see being an individual or his parent, or a Hindu undivided family for agricultural purposes (hereinafter referred to as the original asset), and the assessee has, within a period of two years after that date, purchased any other land for being used for agricultural purposes, then, instead of the capital gain being charged to income-tax as income of the previous year in which the transfer took place, it shall be dealt with in accordance with the following provisions of this section, that is to say,- (i) if the amount of the capital gain is greater than the cost of the land so purchased (hereinafter referred to as the new asset), the difference between the amount of the capital gain and the cost of the new asset shall be charged under section 45 as the income of the previous year; and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three years of its purchase, the cost shall be nil; or (ii) if the amount of the capital gain is equal to or less than the cost of the new asset, the capital gain shall not be charged under section 45; and for the purpose of computing in respect of the new asset any capital gain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de the allowability of the claim in accordance with law, after providing opportunity of being heard to the assessee. 15. With regard to landscaping and other expenses claimed, the ld. AR submitted additional evidence before us and prayed for admission of the same on the ground that it could not be produced earlier since the counsel who has handling the assessee s case was continuously ill and passed away. The ld. DR objected to admission of additional evidence before the Tribunal. After hearing both the parties, we are of the view that the additional evidence now submitted goes to the root of the issue of expenses claimed and therefore in the interest of justice, we admit the additional evidence. 16. The documents now produced in the form of additional evidence in support of the landscaping and other expenses requires verification by the AO and for this purpose, we remit this issue to the AO for consideration of the AO and decision in accordance with law, after reasonable opportunity of being heard to the assessee. 17. With regard to expenses at the time of purchase, landscaping and other expenses claimed in the computation of capital gains for the year under consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X
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