TaxTMI 
TaxTMI 
2019 (4) TMI 809
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....(A) - 2, Chandigarh is unjustified in upholding the re-assessment framed u/s 147 r.w.s. 148 of the I.T. Act, 1961 by the Ld. Assessing Officer which is bad in law as the reasons recorded were on the basis of incomplete version of notification without any proof and proper satisfaction. 3. That the Ld. CIT (A) - 2, Chandigarh is unjustified in upholding the order of the Ld. Assessing Officer regarding addition of Rs. 30,62,489/- under the head Long Term Capital Gains as the agricultural land sold by the appellant is not a capital asset u/s 2(14) of the I.T. Act, 1961 being beyond the notified limits. Thi....
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....e issues raised therein are elaborated in ground Nos. 2 to 5. Accordingly, it requires no specific adjudication. Qua ground No. 2 it is seen that the said ground has not been agitated before the CIT(A) and in the absence of any infirmity having been pointed out, said ground is dismissed. 4. The record shows that the assessee assailed the addition of Rs. 30,63,489/- made by the AO who relying on the information had noticed that despite having sold land, the assessee had not disclosed capital gains in the return of income. As a result thereof, re-assessment proceedings were initiated by him u/s 147 of the Act. The AO took note of the fact that the assessee had sold his land in village Ballo Majra to M/s Hamir Rea....
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....A) also held that the fresh evidence relied upon could not be admitted as the assessee had not made any request for admission of fresh evidence in terms of Rule 46A of the ITAT Rules, 1963. 7. The ld. Sr.DR was heard qua the nature of assessee's sources of income. It was agreed that the assessee appears to be an agriculturist. Qua the issue as to whether the valuation of land is to be based on the sale instances for the specific period as opposed to valuation carried out by an expert, the ld. Sr.DR though placed reliance upon the order, however, could not make out any argument or offer any justification as to why since the Registered Valuer's report relied upon by the assessee was to be discarded, the issue was not referred to ....
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....In case the version of truth canvassed by way of evidence by the assessee is to be disturbed, then appropriate enquiries/information etc. can be sought from the Land Revenue Authorities. A fact is a concrete reality which no amount of reasoning can change and cannot be created. Specific evidence of the location of the property qua the issue has to be decided in accordance with law and the report, if any placed by the assessee is directed to be considered appropriately and in case it is found to be not reliable or found wanting, the tax authorities have sufficient powers themselves to call for the report from the relevant Land Revenue Authority and confront the same to the assessee before deciding the issue in accordance with law. ....
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....tate and presupposes that it is exercised responsibly and fairly. 8.2 In today's digital world, tax compliances necessarily have increased, with Banks, Land Revenue Authorities being integrated with tax authorities. However, the benefit of actual and complete knowledge of financial nuances and Taxing Statutes coupled with computer literacy has remained restricted to a large extent only to a few experts. The tax authorities constitute some of these few elites who have been equipped by the State by providing training and courses in order to hone the skill and competence with the use of cutting edge technology. I am of the view that the rash attitude of adopting the dangerous policy and philosophy of "us against them" in a....