https://www.taxtmi.com/caselaws?id=466136 Examination of procedural and tax issues arising from an ex-parte appellate dismissal and assessment treating entire sale proceeds as long term capital gain. The requirement of opportunity to be heard before appellate authority is affirmed and the appellate dismissal without notice is set aside, with direction for fresh hearing; consequence: appeal remitted for reconsideration. The assessing officers treatment of the entire sale consideration as long term capital gain without allowing deduction for cost of acquisition is incorrect; consequence: AO to recompute gain after permitting cost deduction. AO must also examine the claim that the land was rural agricultural land not constituting a capital asset and probe source of unexplained cash deposits. A monetary cost payable to a public relief fund was imposed on the appellant. en-us Thu, 22 May 2025 00:00:00 +0530 Mon, 26 Jan 2026 20:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466136 Examination of procedural and tax issues arising from an ex-parte appellate dismissal and assessment treating entire sale proceeds as long term capital gain. The requirement of opportunity to be heard before appellate authority is affirmed and the appellate dismissal without notice is set aside, with direction for fresh hearing; consequence: appeal remitted for reconsideration. The assessing officers treatment of the entire sale consideration as long term capital gain without allowing deduction for cost of acquisition is incorrect; consequence: AO to recompute gain after permitting cost deduction. AO must also examine the claim that the land was rural agricultural land not constituting a capital asset and probe source of unexplained cash deposits. A monetary cost payable to a public relief fund was imposed on the appellant. Case-Laws Income Tax Thu, 22 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466136