2018 (4) TMI 174

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....s erred in law and facts in deleting the addition of Rs. 1,61,63,406/- made by the AO under the head Long Term Capital Gains by disallowing exemption claimed by the assessee u/s 10(37). The Ld CIT(A) deleted this addition without appreciating the facts narrated in detail in the assessment order. 2. On the facts and in the circumstances of the case the Ld. CIT(A) has erred in law and in facts in treating the Gair Mumkin land as agricultural land without appreciating the facts of the case. 3. That the appellant craves for permission to add, delete or amend the ground of appeal before or at the time of hearing of appeal. 2. Relevant facts in brief are that the assessee is an individual deriving income from salary, house property, prof....

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....emption u/s 10(37) of the Act could be allowed. On this premise, an amount of Rs. 1,61,63,406/- was added back to the income of the assessee. 3. In the appeal preferred by the assessee, Ld.CIT(A) basing on the certificate issued by the Patwari, found that the Revenue authorities certified that the "gair mumkin" land has been classified as agricultural land where there are wells, water channels and water storage tank, and since the land of the assessee that was acquired by the HUDA abuts and contagious to the agricultural land where cultivation is being carried out indicating that there are wells, water channels and water storage tank, this particular "gair mumkin" land also falls within the ambit of agricultural land and is, therefore, e....

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....inasmuch as cultivation was being carried out in such land which not possible without the presence of the irrigation facilities. Nextly, he submits that in so far as that part of the compensation that was received after 01.04.2004 in respect of capital assets within the meaning of section 2(14)(iii) of the Act, benefit of section 10(37) of the Act is available. 5. We have carefully gone through the record. Vide paragraph 6, the Ld.CIT(A) observed as follows:- 6. "I have considered the issue and the submissions made by the AR. Sub section (37) has been inserted w.e.f 1.4.2005 to provide relief in respect of compulsory acquisition of agricultural land, being capital asset as defined in section 2(14)(iii) wherein the compensation or enha....