TaxTMI 
TaxTMI 
2021 (2) TMI 682
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.... Section 271 (1)(c) of the Act, on addition of Rs. 48,48,309/made under Section 50C of the Act. 2. In the aforesaid context, we may state that in the case of the very same writ applicant herein before us, we decided the issue of Section 50C of the Act by remitting the matter to the Principal Commissioner. We quote the order passed by this Court on 18.01.2021: "1. By this writ application under Article 226 of the Constitution of India, the writ applicant has prayed for the following reliefs: "A) this Hon'ble Court be pleased to call for the records of the proceedings, look into them and be pleased to issue a writ of certiorari or any other appropriate writ, order or direction quashing the order of Respondent at Annexure ....
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....d of limitation by 29 days. He was not convinced by the explanation rendered by the petitioner for such delay. Nevertheless, he proceeded to decide the revision petition on merits as well. The petitioner had raised two issues. One was the decision of the Assessing Officer not granting exemption under section 54B of the Act and the other being the applicability of section 50C of the Act in relation to sell of land by the petitioner. 2. Counsel for the petitioner submitted that he does not dispute the Commissioner's order in connection with the claim of the petitioner under section 54 of the Act. However, with respect to revised capital gain under section 50C of the Act, counsel relied on the 1st proviso to subsecti....
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....y first quote the relevant observations with regard to the delay in filing the application under Section 264 of the Act. The observations are as under: "As per provision contained in sub section (3) of section 264 application for revision under this section by the assessee, must be made within one year from the date on which the order in question was communicated to him. In this case, the assessment order was served on 29.01.2016 upon the assessee. Thus, assessee was required to file application on or before 29.01.2017 but it has filed on 27.02.2017. Thus, there was a delay of 29 days in filing the application. Assessee himself admitted that the application was late and has not given any plausive/concrete reason e....
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....on succeeds in part. The impugned order passed by the Principal Commissioner, Ahmedabad dated 19th March, 2018, Annexure - H to this writ application, page99, is hereby quashed and set aside. The matter is remitted to the Principal Commissioner of Income Tax4, Ahmedabad for the purpose of adjudicating the issue with regard to Section 50C of the Act. 10.At this stage, we may once clarify again so that there may not be any confusion in future that the issue with regard to limitation stands concluded. The issue with regard to limitation shall not be respondent-opened by the Principal Commissioner while adjudicating the claim of the writ applicant with respect to Section 50C of the Act. In this regard, we clarify that we have not expre....