9911796707
TMI Blog2017 (12) TMI 1852X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent by : Shri R. Chandramouli, CA & Shri S.V. Venkateshwaran, CA ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER: This appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals) -16, Chennai, dated 22.05.2017, and pertains to assessment year 2013-14. The assessee has also filed cross-objection in respect of the same order of the CIT(Appeals). Therefore, we hear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xemption under Section 54B of the Act. Therefore, according to the Ld. D.R., the CIT(Appeals) is not justified in allowing the claim of the assessee. 4. On the contrary, Shri R. Chandramouli, the Ld. representative for the assessee, submitted that admittedly the land in question is situated within the city limit, therefore, it is a capital asset. According to the Ld. representative, the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ither side and perused the relevant material available on record. The assessee claims that the property, which is situated within the Corporation of Chennai, was used for cultivation. From material available on record it appears that the assessee planted some coconut trees in the land in question. The assessee has also produced copies of Adangal extract to establish that the land was used for cult ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the assessment order. However, there was no reference about the purchase of property. The assessee now claims that he is ready and willing to produce the copy of sale deed before the Assessing Officer. Therefore, this Tribunal is of the considered opinion that the Assessing Officer shall re-examine the issue afresh. Accordingly, the orders of both the authorities below are set aside and the ent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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