2020 (10) TMI 657

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....it for condonation of delay. Being satisfied with the reasons given in the Application and as the Ld.DR did not seriously oppose the condonation of delay, the delay is condoned and I proceed to decide the appeal as under. ITA No. 1243/Hyd/2019 AY 2008-09 Smt. Koppolu Suguna 2. Brief facts of the case are that the assessee is an individual having no independent source of income. The AO received information that the assessee has sold a property at plot no.2887 admeasuring 500 sq.yards situated at Shankar hills colony of Vattinagulapally Village and Grampanchayat, Rajendra Nagar Mandal, R.R.District vide doc.no.801 of 2007 dated 22.12.2007 for a consideration of Rs. 4,00,000/-. When verified from the office records, the AO observed that the....

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....g the valuation of the property by VO at Rs. 15.13 lakhs, the CIT(A) directed the AO to adopt the same valuation in place of SRO value and work out the capital gain accordingly. ITA No. 1243/Hyd/2019 AY 2008-09 Smt. Koppolu Suguna 3. Aggrieved, by the order of CIT(A), assessee is in appeal before the Tribunal by raising the following grounds. "1. The Order of the Learned Commissioner of Income Tax (Appeals) 1, Hyderabad passed for the Assessment Year 2008-09 in ITA. No. 0140/2016-17/ITO, Ward 11(5)/CIT(A)-1/HYD/2018-19 is erroneous both in law and also on facts of the case. 2. At the outset the assesse-appellant prays that the marginal delay of 13 days which took place in filing the present appeal before the Honourable ....

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.... by the assesse-appellant before the Learned Assessing Officer and also the Learned CIT(Appeals), may be against the RULE OF CONSISTANCY upheld by the judiciary in many-a-case, and thus the SAME MAY BE VOID IN LAW; 6. For these reasons and other reasons which may be advanced during the course of hearing of the appeal, It is humbly requested that the LTCG liability to the extent sustained by the Learned CIT (Appeals) may be ordered to be deleted in the interests of equity and justice and also to be in conformity with the provisions of law." 3.1. At the time of hearing, the Ld.Counsel for the assessee submitted that assessee is not pressing ground no.3 and also argued only on the valuation to be adopted for the property and did no....