2012 (11) TMI 1311

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....: Shri KEB Rengarajan, Jr. Standing Counsel. ORDER PER Dr. O.K. NARAYANAN, VICE PRESIDENT This appeal is filed by the assessee. The relevant assessment year is 2005-06. The appeal is directed against the order of the Commissioner of Income-tax(Appeals)-I at Coimbatore, dated 1-6-2012. The appeal arises out of the assessment completed under section 143(3), read with section 147 of the Inco....

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....construed as full and true disclosure required for purpose of computation of capital gains, and upholding the jurisdiction of the AO, for availing extended time limit under the proviso to Section 147, in the facts and the circumstances of the case and in law. 3. The learned CIT(Appeals) ought to have held that the constitutional of validity of Section 50C, had been upheld by the jurisdictional ....

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....al gains, as per the impugned order, is clearly contrary to law, excessive and unsustainable in the facts and the circumstances of the case." 3. We heard both sides in detail. In the present case the original assessment was completed under section 143(3). The Assessing Officer issued a notice under section 148 after a period of three years to reopen the assessment under section 147. The case of....

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....tostat copies of the sale deed. This disclosure cannot be ignored only for the reason that the assessee had filed only photostat copies of the sale deed. The original sale deed will always be with the buyer of the property. The assessee will have only the certified copy. If the assessing authority had insisted at the time of original assessment, the assessee could have produced the original certif....