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TMI Blog2022 (12) TMI 1320X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee against order dated 31.08.2018 of learned Commissioner of Income-Tax (Appeals), Ghaziabad for the assessment year 2009-10. 2. Though, the assessee has raised grounds, both challenging the legality of proceedings initiated under Section 147 of the Act as well as on the merits of the addition made of Rs.3,55,602, however, at the time of hearing, learned counsel appearing for the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceeded to complete the assessment to the best of his judgment by invoking the provisions of section 144 of the Act. Taking note of the fact that the property was owned by four persons, the Assessing Officer apportioned on 1/4th of the total sales consideration as gain of the assessee from sale of immoveable property and added back an amount of Rs.8,61,250. 4. Assessee contested the aforesaid addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee's hand is Rs.3,55,602. Thus, he directed the Assessing Officer to sustain addition of Rs.3,55,602 as long term capital gain. While doing so, he rejected assessee's claim of deduction under Section 54B of the Act on the ground that the agricultural land was purchased in the name of assessee's wife. 6. Before me, learned counsel appearing for the assessee submitted that investment in purch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee is eligible to claim deduction under Section 54B of the Act. The factual aspect relating to this issue remains undisputed. Therefore, there is no need to deliberate further on facts. The only reason for which learned Commissioner (Appeals) has denied assessee's claim of deduction under Section 54B of the Act is because the agricultural land in which the capital gain was invested was purchased i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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