2018 (8) TMI 1705

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....hri S. Dasgupta, Addl. CIT-DR ORDER PER S.S.Godara, Judicial Member:- This assessee's appeal for assessment year 2012-13 calls into question correctness of Commissioner of Income Tax (Appeals)-10, Kolkata's order dated 30.03.2017 passed in case No.119/CIT(A)-10/Cir-36/15-16/Kol upholding Assessing Officer's action making long term capital gains addition of Rs.37,85,396/- after invoking se....

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....'ble apex court's decision in NTPC vs. CIT 229 ITR 383 (SC). We find the Revenue's sole contention against admission of assessee's additional ground to be devoid of merit. This Tribunal's special bench's decision in All Cargo Global Logistics Ltd. vs. DCIT (2012) 137 ITD 26 (Mum) holds that we can very well entertain such an additional ground for ascertaining an assessee's correct tax liabilit....

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....ideration ofRs. 40 lac. This followed the impugned long term capital gains addition of Rs.37,85,396/- made in the assessment order dated 26.03.2015 as upheld in the lower appellate proceedings. 4. We have given our thoughtful consideration to rival contention regarding applicability of section 50C in the given facts and circumstances of the case. There is no dispute that the assessee had acquir....