2021 (8) TMI 568

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nsel For the Respondent : No appearance JUDGMENT T.S.SIVAGNANAM, J. This appeal, by the appellant/Revenue, filed under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act"), is directed against the order dated 26.11.2012 made in I.T.A.No.1703(Mds)/2012 on the file of the Income Tax Appellate Tribunal 'D' Bench, Chennai (for brevity "the Tribunal") for ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e assessment for the year under consideration, viz., 2005-06 was completed by order dated 28.12.2007, under Section 143(3) of the Act. The assessment was subsequently reopened under Section 147 and notice under Section 148 of the Act was issued. The Assessing Officer stated that for the subject assessment year, long term capital gain of Rs. 1,62,74,689/- was computed by taking sale consideration o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ot mentioning the correct built-up area of the existing structure in the document, upon inspection of the property and not because of under-valuation of the property transferred even after taking the correct built-up area. The Assessing Officer did not agree with the assessee and held that the compounding fee is inclusive of 8% stamp duty and 1% registration fee and therefore, it is clear that it ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ale Deed has been filed and the dispute with regard to the sale consideration is not open for revision. Furthermore, the assessee contended that the order passed under Section 147 is bad in law, since the matter was not referred for valuation in terms of Section 50C(2) of the Act. The CIT(A), did not agree with the assessee and dismissed the appeal by order dated 01.06.2012. Aggrieved by the sa....