TaxTMI 
TaxTMI 
2021 (4) TMI 209
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.... "1. On the facts and in circumstances of the case and in law, the Hon'ble Commissioner of Income Tax (Appeal)-13, Ahmedabad has erred in arriving at a conclusion that the appellant has one-half (50%) share in the property. 2. On the facts and the circumstances of the case and in law the Hon'ble Commissioner of Income Tax (Appeal) has erred in making an assumption without any supporting evidence that when no specific share is mentioned in the purchase deed than legal position is that share of all the co-owners are equal." 2. Brief facts of the case are that assessee is an individual. The assessee not filed return of income for the impugned assessment year. The Assessing Officer (AO) on the basis of AIR informati....
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....gal heirs of Shri Harman Bhai Patel. On further verification of sale deed 04.01.2012, the AO noted that the assessee has calculated capital gain on 25% of sale consideration and remaining 75% was shared with legal heirs of co-owner, namely Shri Harman Bhai Patel. The AO was of the view that assessee and legal heirs of co-owner were was entitled for 50% of share each. The AO worked out capital gain on the basis of 50% of the sale consideration in assessment order dated 27.12.2016 passed under section 144 r.w.s. 147 of the Act. 3. On appeal before the ld. CIT(A) the action of the AO was confirmed. Further aggrieved, the assessee has filed present appeal before this Tribunal. 4. We have heard the submission of ld. Authorised Representati....
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....d on 09.05.2016, thus, the assessee filed two affidavits of two co-sharers. The ld. CIT(A) also disregarded the documentary evidences and confirmed the action of the AO. The Ld. AR of the appellant submits that he has proved his case beyond doubt by placing documentary evidence on record that only 1/4th consideration was received on sale of land. 6. On the other hand, the ld. Sr. DR for the Revenue submits that the asset/land was purchased by two persons i.e. Shri Babubhai Patel and Shri Harmanbhai Patel. Since plot was purchased by two persons, thus, the assessee was having 50% ownership in the land. At the time of sale, the assessee claimed that he received only 25% of the sale consideration. 7. We have considered the rival submissi....
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....AO, considering the 50% share, disregarded the other submission including the documentary evidence filed by the assessee. Before the ld. CIT(A) the assessee furnished the affidavit of Shri Pravinchandra Harmanbhai Patel and Shri Yogendrakumar Harmanbhai Patel. The ld. CIT(A) confirmed the action of AO by taking view that when no specific share was mentioned in the purchase deed, the share of co-owners are equal. On the death of one of the co-owners, three legal heirs became owners of the property along with surviving co-owner with their cumulative share which cannot be more than 50%. The ld. CIT(A) further held that the total income as defined in section 2(45) of the Act is to be computed as per provision of the Act. The income is taxable i....