2017 (4) TMI 626

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....ances of the case as well as law on the subject, the learned commissioner of the Income Tax (Appeals) has erred in confirming the action of the assessing officer in re-opening the assessment and issuing notice u/s.148 of the I.T. Act, 1961. 2. On the facts and in the circumstances of the case as well as law on the subject, the learned commissioner of the Income Tax (Appeals) has erred in confirming the action of the assessing officer in making addition of Rs. 13,81,090/- on account of short term capital gain on sale of land. 3. On the facts and in the circumstances of the case as well as law on the subject, the learned commissioner of the Income Tax (Appeals) has erred in confirming the action of the assessing officer in making additi....

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....rs, Survey No. 133/2, Ha 0-06 Ars and Suvey No. 133/3 admeasuring Ha 0-05 Ars, total admeasuring 70,800 Sq. meters situated at Village Jani Vankad, Nani Daman which was purchased from Shri Bhagwanbhai Madhavbhai Machhi for 15,55,640/-. The total sale consideration of the above land was Rs. 70,80,000/- made on 5th April, 2007 in the name of M/s. Khemani Distilleries Pvt. Ltd. The assessing officer has also mentioned regarding notification as under:- "The Notification u/s. 2(1A)(c), proviso, clause (ii)(B) and section 2(14)(iii)(b), Date 1/6/1994, Notification No, S.O.9447 and File Number 164/3/87-ITA.I was published by the Central. Government having regard to the extent of, and scope for urbanisation of the areas concerned and other releva....

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....hose properties which was situated at a distance of more than 8 kilometers from the Daman Municipal limits and not covered under the above notification schedule. Therefore, the assessing officer made addition of Rs. 13,81,099/- as short term capital gain on the sale of above mentioned land. 5. Aggrieved against the order of the assessing officer, the assessee filed appeal before the ld. CIT(A). The ld. CIT(A) has rejected the appeal of the assessee by observing as under:- "6.2. The Grounds of appeal- Ground No. 2 pertains to making addition of Rs. 13,81,090/- on account of short term capital gain on sale of land. On the perusal of the details it is observed that the land was situated within the Daman Municipal limits and did not fall in ....

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....ded that the said agricultural land was situated at village Jani Vankad, Nani Daman which is situated outside the 8 kilometers from Daman Municipal council and has a population of less than 10,000 people. On other hand, ld. departmental representative supported the order of ld. CIT(A). 7. We have heard both the sides. We have also gone through the materials on record through the help of representatives. We noticed that the sold land was situated at village Jani Vankad, Nani Daman. We have further noticed that Jani Vankad and Nani Vankad were not the same village and both the villages were distinct from each other belonging to greater area called Nani Daman. We have also noticed that the certificate produced before the assessing officer by ....