TaxTMI 
TaxTMI 
2018 (12) TMI 1555
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....roceedings u/s 147 of the Income Tax Act, 1961 as there was no reason to believe with learned AO of escaping the assessment at the time of issuing of the notice. The very base taken by the learned AO is vague, wrong, farfetched and against the facts of the case. Hence, the proceedings initiated under section 147 are not valid as it was not based on reason to believe; rather reason to believe is erroneous and untenable. 2. That under the facts and circumstances of the case, the learned CIT(A) has erred in law and on merits of case was not justified in sustaining addition of Rs. 3400000/- on sale of agriculture land though it complies with all the conditions mentioned in Section 2( 14) (iii) of the Income Tax Act 1961. Further in clause b o....
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....tal asset being situated within municipal limits of Ghaziabad Nagar Nigam. This fact was also confirmed by SR oh - IV, Ghaziabad through his office letter dated 13/12/2012 in response to the query of the learned assessing officer dated 5/12/2012. 4. In response to the notices issued by the learned assessing officer none appeared. Therefore notice under section 144 of the act was issued on 13/6/2016 and assessee did not comply with the learned assessing officer and therefore the learned assessing officer was of the view that assessee has no plausible explanation to offer with regard to the short-term capital gain liability on sale of immovable property for Rs. 34 lakhs. Accordingly, the assessment under section 144 read with section 147 of....
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....er the impugned agricultural land false beyond 8 km of distance from the outer limit of the nearest municipality or not. To decide this issue he obtained the distance based on the Google Maps distance locator to find the distance from the Loni Nagar palika and the Ghaziabad Nagar Nigam tow nearest Municipalities near the village of Narainanagar, Alias Rampur. According to that he found that the distance between the immovable property to Loni Nagar Palika is 8.8 Kms. and to Ghaziabad Nagar Nigam is 17.5 km. Based on the above he found that even if it is considered that the Loni is extended up to a small radius of only 3 km the village Narainnagar will be only 5.8 km away from the outer limit of the Loni Nagar Palika. Therefore he held that a....
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....that the land is situated within the specified distance from the municipality and therefore it is a capital asset in transfer of which it is chargeable to the capital gain. 8. We have carefully considered the rival contention and perused the orders of the lower authorities. Undisputedly the assessee is an agriculturist and sold a rural agricultural land at Village Narainanagar alias Rampur Ghaziabad. The central government has issued a notification number SO 9447 dated 6/1/1994, which provides for the name of the states and the name of municipality et cetera. According to that Ghaziabad the specified serial number 20 of the State UP. Loni is not specified in any of the municipality mentioned at serial number 1 to 59 of that notification in....