2021 (7) TMI 620

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....ain, accepting the plea of the assessee that the protective assessment in the name of all co-owners in their individual capacity have been made and confirmed by the CIT(A). The CIT(A) has deleted the addition without appreciating the fact that the land sold was ancestral and belongs to Mool Chand, HUF. Appeal against the orders of the CIT(A) in case of co-owners in their individual capacity are also pending before the Hon'ble ITAT. 2. We have heard rival submission of the parties on the issue in dispute, who appeared through Video Conferencing facility and filed various documents electronically. 2.1. Brief facts of the case are that Late Sh. Moolchand owned an agricultural land which was situated in municipal limits of Dharuhera (....

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....so submitted that at the time of the transfer of land, the land was duly recorded in the name of the five individuals in the Land Revenue records and they have transferred their individual share in the land to the buyer and therefore assessment of same transaction in the hands of the assessee, i.e., the Moolchand HUF is without any evidence of ownership in the hands of HUF and merely based on imagination of the Assessing Officer. During the hearing of appeal before us, the learned DR was directed, to confirm this fact and file grounds of appeal, if any such appeals have been preferred by the Revenue in the case of those five individuals. Despite repeated opportunities the Ld. DR failed to provide details of any such appeals filed by the Rev....