2019 (2) TMI 353

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....erred in law and on facts in disallowing deduction claimed by the appellant u/s 54 B of the ITA, 1961 amounting to Rs. 60,08,199/-. 2. The learned CIT(A)-13, Pune erred in law and on facts in affirming the disallowance of deduction u/s. 54B of the ITA, 1961 made by learned AO without appreciating that no. of coconut & mango trees exist on the land and that the said land is agricultural land as per revenue records. 3. The learned CIT(A)-13, Pune erred in law and on facts in affirming the disallowance of deduction u/s.54B of the ITA, 1961 made by learned AO without appreciating that the case was discussed and heard on 04/02/2014 and thereafter, no any show cause notice/letter/ communique was issued by learned AO to the appel....

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....assessee did not claim any expenditure on agricultural activities carried out by him. The assessee also did not furnish any documents in support of its contention that he carried out agricultural activities on the land sold by him. 4. The assessee's contention was that the sale deed states the transferred land was agricultural land. It was used for the agricultural purposes and the agricultural produce, was used only for the household. However, the assessee did not produce any evidence in support of its claim. The Assessing Officer stated that 7/12 extract attached to sale deed furnished by the assessee shows that land is a barren land and was not used for the agricultural purposes. It is known that 7/12 extract records crops cultivated,....

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....poses for two years prior to date of transfer or not is a question of fact. The assessee has only raised legal arguments as to why the deduction should not be denied to him. However, neither before the Assessing Officer nor before the Ld. CIT(Appeals), the assessee has filed any evidence to support that transferred land was used for agricultural purposes for two years prior to the date of transfer. Thereafter, the Ld. CIT(Appeals) makes detailed order and as per reasons recorded therein which is on record confirmed disallowance of deduction u/s.54B of the Act. 7. At the time of hearing the Ld. AR of the assessee prayed for filing additional evidences placed in paper book at page No. 87 and 216. Page No.87 is the certificate obtained from....