TaxTMI 
TaxTMI 
2020 (10) TMI 1012
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..... That on law, facts and circumstances of the case, the Worthy CIT(A) has erred in confirming the action of the Ld. AO wherein he had erred in initiating, continuing and concluding the impugned assessment u/s 148 r.w.s. 147 of the Act. 3. That on facts, circumstances and legal position of the case, Worthy CIT (A) has erred in confirming the action of Ld. A.O. even when the Ld. A.O. had passed the impugned assessment without affording reasonable opportunity of being heard to the appellant. 4. That on law, facts and circumstances of the case, the Worthy CIT (A) has erred in confirming the action of Ld. AO wherein he made addition of Rs. 1,86,81,250/- by holding the sale of agricultural land as capital as amounting to Long term capital g....
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....he assessee had not responded to the letter dt. 18/02/2010 calling for information under section 133(6) of the Income Tax Act, 1961 (hereinafter referred to as 'Act'), the A.O. initiated the proceedings under section 147 of the Act and issued the notice under section 148 of the Act. The A.O. also issued the notice under section 142(1) of the Act. Since there was no compliance, the A.O. framed the assessment under section 144 of the Act and made the addition of Rs. 1,86,81,250/-. 5. Being aggrieved the assessee carried the matter to the Ld. CIT(A) and furnished the following submissions: "That while making the computation of capital gains the Ld. AO did not consider the amount of cost of acquisition and the cost of improvement. Th....
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....h. Apart from various factual as well as legal issues involved in this case one of the crucial issue involved is as to land sold by the appellant is a capital asset. To come to a conclusive answer to the question, it is imperative to determine the location and distance of the land from the nearest municipal limit. The assessee requested the Land Revenue Officer of the assessee to give a certificate in this regard who has provided the same. Copy of the same is attached herewith. During the appellant proceedings before the Hon'ble CIT(A), assessee tried its best to obtain the certificate but couldn't get the same at time, therefore, there existed the reasonable cause for not furnishing the same before lower authorities. Further, the f....