2021 (7) TMI 933

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.... ORDER Per Amarjit Singh, Accountant Member : This assessee's appeal for A.Y. 2011-12, arises from order of the CIT(A)-11, Ahmedabad dated 04-03-2016, in proceedings under section 143(3) r.w.s. 153A of the Income Tax Act, 1961; in short "the Act". 2. The appeal of the assessee pertaining to assessment year 2009-10 to 2012-13 arose from the order of CIT(A) -11 Ahmedabad was adjudicated....

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....ment incurred and rightfully claimed on land purchased in 1995 by the appellant. 8. Ld. CIT(A) erred in law and on facts in not adjudicating contention raised without prejudice to above ground that disallowance in any case deserved to be deleted since against investment of Rs. 1,43,09,000/- in the new agricultural land LTCG claimed was only to extent of Rs. 1,19,74,290/- deducting indexed....

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....n record. During the course of assessment, assessee along with other 5 co-owners/partners sold agricultural land situated at Makarba, Sarkhej District, Ahmedabad admeasuring 14080 square yards for a consideration of Rs. 6 crores (Rs. 1 crore to each partner as their shares). The assessee had shown improvement cost of Rs. 9,60,000/- and claimed indexed cost of improvement at Rs. 20,82,093/- of the ....

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....ned. Ld. AR submitted that cost of improvement incurred rightfully claim on land purchased in 1995 but despite of the fact that several opportunities were given by the lower authorities. Appellant did not discharge his ones by producing bill of the expenses incurred for improvement in support of his claim. In our considered opinion, we must have spent some amount maintaining the ....