TMI Blog2023 (8) TMI 1187X X X X Extracts X X X X X X X X Extracts X X X X ..... e same would have material bearing on the computation of capital gains in the hands of the assessee. It could also be seen that the assessee has made alternative claim u/s 54B which has not been considered primarily in the absence of sufficient evidences. Considering the prayer made before us in the appeal as well as in the cross-objection, we restore the matter of assessment back to the file of Ld. AO to frame fresh assessment keeping all the issues open. Assessee s appeal stand allowed for statistical purposes. - Hon ble Shri Mahavir Singh, VP And Hon ble Shri Manoj Kumar Aggarwal, AM For the Appellant : Shri D. Anand (Advocate)-Ld.AR For the Respondent : Shri AR V Sreenivasan (Addl.CIT)- Ld. DR ORDER MANOJ KUMAR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... keeping all the issues open. The Ld. Sr. DR, on the other hand, drew attention to the cross-objections and made similar prayer. Considering the same, the appeal is disposed-off as under. 3.1 The assessee being resident individual sold certain agricultural land for Rs. 137.60 Lacs. However, in original return of income, no capital gains were shown and accordingly, the case was reopened and notice u/s. 148 was issued on 08-11-2017. During the course of assessment proceedings, it transpired that the assessee sold vacant land admeasuring 86 cents comprised in survey No.249/1 (As per patta bearing No.3148) situated at 153, Perumbakkam Village, Sholinganallur Taluk, Kanchipuram Dist. for a consideration of Rs. 137.60 Lacs. No capital gain was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eld that since TDS was deducted on sale consideration u/s. 194IA and the assessee claimed credit of TDS, the sale consideration would be taxable in the hands of the assessee. Accordingly, the action of Ld.AO was upheld. Aggrieved, the assessee is in further appeal before us. Our Adjudication 4. We are of the considered opinion that Ld. CIT(A) erred in not admitting additional evidences since the same would have material bearing on the computation of capital gains in the hands of the assessee. It could also be seen that the assessee has made alternative claim u/s 54B which has not been considered primarily in the absence of sufficient evidences. Considering the prayer made before us in the appeal as well as in the cross-objection, we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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