2021 (1) TMI 465

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....vi, Member (J) 1. These are assessee's appeals for the A.Y. 2011-12 against the order of the CIT (A)-10, Hyderabad, dated 25.07.2019. 2. Brief facts of the case are that the assessee is an individual and an NRI. As per the information received from the Director of Income Tax (I&CI), the assessee being the co-owner of the property along with 7 others had sold a property to one Shri Rajesh....

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....tion 50C of the Act and also computation of the capital gain without considering the cost of acquisition of the property. The CIT (A) called for a remand report from the AO on the submissions made by the assessee and the AO reported that the notices u/s. 148 and also 142(1) were sent to the assessee through speed post and the same were served on the assessee. However, the AO did not mention anythi....

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.... 3. Any other ground or grounds that may be urged at the time of hearing". 3. The learned Counsel for the assessee submitted that the relevant papers were filed before the CIT (A) and requested that the CIT (A) or the AO may be directed to allow the cost of acquisition while computing the capital gain. 4. The learned DR was also heard. 5. Having regard to the rival contentions an....