9911796707
TMI Blog2024 (8) TMI 1301X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. This Tax Appeal is arising from the common order dated 06.01.2021 passed by the Income Tax Appellate Tribunal, 'C' Bench, Ahmedabad [for short 'the Tribunal'] under section 260A of the Income Tax Act, 1961 [for short 'the Act'] in Appeal being ITA No. 151/Ahd/2017 for Assessment Year 2010- 11 on the following proposed question of law: "(i) Whether, in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in not adjudicating upon the additional ground of appeal with respect to Motera Land being a rural agricultural land not exigible to tax by not being a 'capital asset' within the definition as prescribed u/s. 2(14) of the Income Tax Act, 1961?" 4. The Tribunal passed the common order in case of Sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roup of cases on 27.04.2011 and subsequent dates. A warrant of authorization u/s. 132 of the Act was also issued to the appellant followed by notice u/s. 153A on 22.09.2011. The appellant filed return of income on 14.11.2011 declaring total income of Rs. 15,75,150/- claiming exemption u/s. 54B of the Act amounting to Rs. 77,03,350/against the long term capital gain on sale of non-agricultural land. 5.4 The Assessing Officer vide order dated 28.03.2014 computed the income of the appellant-assessee at Rs. 1,65,34,900/- denying exemption u/s. 54B of the Act on Motera as well as Nardipur Land. 5.5 The assessee then filed appeal before the the Commissioner of Income Tax (Appeals) who, by order dated 19.12.2016, partly allowed the appeal conf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set" as defined under section 2(14) of the Act and hence, gain arising on transfer thereof is, in any case, not chargeable to tax at all." 8. It was pointed out that the Tribunal decided the aforesaid ground vis-a-vis the land situated at Nardipur in case of Baldevbhai Patel and followed in case of the appellant. However, there is no findings of the Tribunal so far as land situated at Motera as to whether such land is an agricultural land and therefore not a capital asset as defined under section 2(14) of the Act or not? It was submitted that as the Tribunal has allowed the assessee's appeal while granting deduction under section 54B of the Act, in case of the appellant, such deduction is not available as the appellant has not utilized the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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