TMI Blog2023 (2) TMI 1016X X X X Extracts X X X X X X X X Extracts X X X X ..... negligence on the part of the assessee and wastage of precious time. In our considered view, non compliance of notice issued by the Authorities and non appearance before the Authorities inspite of repeated notices/summons is dis-regard towards the Authorities. Be that as it may, without going into merits, considering the interest of natural justice, one more opportunity is granted to the assessee, and the file is restored back to the ld. CIT (A) for consideration afresh, subject to cost of Rs. 2,000/- for negligent attitude during income tax proceedings, to be deposited in the Prime Minister s Care Fund - Appeal of the assessee is partly allowed for statistical purposes. - ITA No. 302/JP/2022 - - - Dated:- 23-2-2023 - Shri Sandeep Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f provisions of section 50C of the Income Tax Act, 1961 is not applicable in the case which has been wrongly applied by the ld. AO and confirmed by ld. CIT (A) and therefore the addition made in the assessment on such basis deserves to be quashed. 2. The additional ground raised by the assessee is regarding application of section 50C of the IT Act, 1961 which was wrongly applied by the AO and confirmed by the ld. CIT (A) and thereby making addition on such basis. The ld. A/R of the assessee has submitted that the additional ground raised by the assessee is arising from the orders of the AO as well as ld. CIT (A) and, therefore, this is not a new ground raised first time at this stage. He has further contended that inadvertently the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Jamabandi (APB 9). This report shows that owner of the land was State Government and the appellant was only a Kastkar (person who is doing cultivation work on land owned by other person) and hence the appellant was not an owner of the land and therefore the provisions of section 50C have been wrongly applied by the AO. The ld. A/R further submitted that Income Tax Act recognizes land and right in the land separately which is evidenced with the provisions of section 54D. For verification, he reproduced the provisions of section 54D as under :- Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases. 54D.(1) Subject to the provisions of sub-section (2), where the capital gain arises from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was taken on lease from Rajasthan State Industrial Mineral Development for Rs. 42,25,000/- which was valued by registering authority at Rs. 58,98,653/-. The ld. AO worked out capital gain by adopting 50C value. Same was confirmed by the ld. CIT (A). On appeal the Hon ble Jaipur Tribunal held in favour of the assessee by observing as under :- 3.4. After considering the above written submissions, we are inclined to accept that Section 50C of the Act applies only to capital asset being land or building or both but it cannot apply to lease rights in a land. Since the assessee has transferred the lease right for 99 years in the plot and not ownership in land itself, the provisions of section 50C cannot be invoked. Therefore, full va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or before 15.03.2021. This time again the said notice was not complied with by the assessee. Therefore, another notice was issued on 28.04.2022 to the assessee to furnish written submission/documents etc. on or before 06.05.2022. Another notice was issued on 10.05.2022 for compliance on 17.05.2022. Thereafter, again another notice was issued on 24.05.2022 for compliance on 30.05.2022 but still the assessee failed to comply with the repeated notices. Therefore, the ld. CIT (A) decided the appeal filed by the assessee by observing in para 6.2 of his order as under :- 6.2. During the appellate proceedings, the appellant was provided many opportunities as enumerated above. The appellant, for the reasons best known to him has remained non- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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