TMI Blog2022 (10) TMI 394X X X X Extracts X X X X X X X X Extracts X X X X ..... is return of income or the sale of other plots against which he could claim capital loss, the matter decided by the SVA in the second valuation remains finally adjudicated. As the assessee has not advanced any arguments/submission controverting the order of the ld. CIT(A). In this situation, the Bench has no other alternative except to the confirm the action of the ld. CIT(A). Thus Ground of the assessee is dismissed. Loss incurred on account of plots as claimed - A.O not allowed any set off against the capital gains related sale receipts -HELD THAT:- As the assessee has not advanced any arguments/submission controverting the order of the ld. CIT(A). In this situation, the Bench has no other alternative except to the confirm the acti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... delivered to assessee. The assessee after receiving appellate order from CA Vinod Toshiwal. The assessee approached the undersingned (S.L. Jain) to prepare and file appeal before Hon'ble ITAT, Jaipur Bench Jaipur and accordingly the said appeal was submitted in the office ITAT on 16/10/2018. To this effect, the ld. Counsel Shri Ashok Kumar Gupta has filed an affidavit praying therein that the said appellate order was placed in some other file of my client and when the assessee called me about filing the appeal before the ITAT then I traced out the said appellate order and delivered to the assessee. 3. During the course of hearing, the ld. DR has no objection to assessee s application for condonation of delay and prayed that Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Kota as commercial and revised DLC value as adopted by subregister has been upheld. 3. That on the facts and in the circumstances of the case Ld. CIT(A) Kota has grossly erred in law and facts in not allowing the capital loss of plot against the capital income of sale of plot . 4. That on the facts and in the circumstances of the case Ld. CIT(A) Kota has grossly erred in law and facts in charging interest u/s, 234)B). 5. The appellant has reserved a right to add, amend or alter any grounds of appeal on or before the appeal hearing. 6. None appeared on behalf of the assessee when this appeal was called out for hearing despite notices of hearing were sent through RPA. Accordingly, we propose to dispose off the appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otential buyer or any other documentary evidences in support. Hence, the arguments of the assessee are neither proved, nor carry on evidentiary weight. The additional Ground taken in appeal (which is actually also included in original grounds) related to the mine sale advance claimed being Rs.30,50,000/- and the balance amount deposited in bank accounts as discussed in the assessment order also, being from Cash in hand, can however be considered as acceptable in fairness that the appellant had both business income as well as possibility of rotation of earlier funds in this regard which could be used for the said difference amount of deposit. The addition of Rs. 35, 20,000/- made by the A.O. u/s 69A is therefore, restricted to Rs. 30, 50,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in his return of income or the sale of other plots against which he could claim capital loss, the matter decided by the SVA in the second valuation remains finally adjudicated. However, the appellant is free to approach the A.O. u/s 155(15) if he has the decision of the tax Board in favour. Till then, the computation of the capital gain done by the A.O. does not require any interference and is upheld. This ground of appeal is dismissed. 11. During the course of hearing, the ld. DR supported the order of the ld. CIT(A) 12. After hearing the ld. DR and perusing the materials available on record, the Bench noted that the assessee has not advanced any arguments/submission controverting the order of the ld. CIT(A). In this situation, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
