TaxTMI 
TaxTMI 
2018 (3) TMI 380
X X X X Extracts X X X X
X X X X Extracts X X X X
....44, Kolkata (in short the ld. AO) u/s 147/143(3) of the Income Tax Act, 1961 (in short the Act) on 04.03.2015 for the assessment year 2010-11. 2. The only issue is to be decided in this appeal is as to whether the Ld. CIT(A) was justified in disturbing the value of sale consideration in the proceedings u/s 154 of the Act, in the facts and circumstances of the case. 3. The brief facts of this issue is that the assessee is an individual and had filed his return of income in the assessment year 2010-11 on 30.07.2010 declaring total income of Rs. 16,54,428/-. The assessment was originally completed u/s 143(3) of the Act on 26.11.2012 determining the total income at Rs. 64,35,080/-. Later the assessment was reopened u/s 147 of the Act and ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n by the assessee that the property was in the property was in the possession of his staff and sale consideration was set by his staff, treating it to be a concocted story to avoid the legitimate tax on Capital Gain on the sale of these properties. 6.2 In this regard it is to point out that the valuation department did not consider the dispute over the property, which was going on since long as this information was not in their possession. During the course of appellate proceeding the assessee has submitted the copy of civil suit relating to disputed property which was on going from 10.07.1990 and the same was disposed off on 27.11.2008. This fact clearly shows that the property was under dispute and it was sold to the same person ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of the I.T. Act. The appellant has not submitted any argument or written up nor attended the same. Considering the fact that it was prima facie mistake therefore the allowance/relief of appeal made to the appellant on this issue is hereby withdrawn. The addition made by the AO on this issue is confirmed for calculating long term capital gain at Rs. 12,08,400/- on stamp value. The grounds of appeal of the appellant is not allowed. The appeal on this issue may be treated as dismissed. The relief given on this issue is withdrawn." Aggrieved by this order of Ld. CIT(A) dated 15.03.2016 (i.e. the order passed by Ld. CIT(A) u/s 154, the assessee is in appeal before us on the following grounds: 1. For that the Ld. CIT(A) having passed....
X X X X Extracts X X X X
X X X X Extracts X X X X
....me- tax authority referred to, in section 116 may,- (a) amend any order passed by it under the provisions of this Act; (b) amend any intimation sent by it under sub- section (1) of section 143, or enhance or reduce the amount of refund granted by it under that sub- section.] (c) amend any intimation under sub-section (1) of Section 200A; (d)amend any intimation under sub-section (1) of section 206CB.] Section 154 (1A) (1A) 4 Where any matter has been considered and decided in any proceeding by way of appeal or revision relating to an order referred to in sub- section (1), the authority passing such order may, notwithstanding anything contained in any law for the,, time being in force, am....