2021 (3) TMI 462

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....the assessee is a capital asset within the meaning of Section 2(14)(iii) of the IT Act, 1961. 2. The Ld. CIT(A) has erred on facts and in law in incorrectly holding that the claim of appellant that the land sold was ancestral is not found to be correct as he himself has submitted that he purchased the land in 2008 ignoring that assessee has nowhere stated that the land which was sold by him was purchased in 2008." 2. The hearing of the appeal was concluded through video conference in view of the prevailing situation of Covid-19 Pandemic. 3. Brief facts of the case are that on the basis of information received from DIT(Inv.)-III, Jaipur, a survey U/s. 133A of the Income Tax Act, 1961 (in short, the Act) was conducted at the bu....

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....tfully prays for taking additional documents on records In the captioned appeal and would like to submit that: That the assessee appellant has filed an Income-tax appeal before income Tax appellate Tribunal, Jaipur Bench, Jaipur for the assessment year 2009-10 against the order passed by the Ld. Commissioner of Income Tax (Appeals)-Jodhpur. The sole issue involved in the appeal relates to, whether the agriculture land sold by the appellant is capital asset or otherwise. That both the lower authorities, rejected the contention of the appellant by solely relying on the distance report of the Tehsildar, Amer who certified the distance of area in which land is situated to be 7 km's from local limits of Jaipur municipality.....