2021 (9) TMI 38

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.... , JM : This appeal filed by the assessee pertaining to assessment year 2013-14 is directed against the order of Ld. CIT(A)-11, New Delhi dated 03.04.2018. The assessee has raised following grounds of appeal:- 1. "The action of the CIT(A) in upholding the assessment order passed by the JCIT Range-32 New Delhi is unjust, illegal, arbitrary, illusory and the order passed on protective....

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....tion deserves to be deleted. 5. The action of the lower authorities in subjecting to tax a sum of Rs. 4,38,72,723/ - as long term capital gains on protective basis is unjust, illegal, , arbitrary, illusory and this addition deserves to be deleted in full. 6. That in the alternate and without prejudice to the above the action of the lower authorities in disallowing the rebate of R....

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....vide order dated 31.03.2016. While framing the assessment, the Assessing Officer noticed that during the year under consideration, the assessee has claimed deduction u/s 54F of the Act against Long Term Capital Gain. The assessee has disclosed the capital gain for the property which was sold during the Financial Year 2011-12 relevant to Assessment Year 2012-13. The Assessing Officer, therefore, re....

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.... 4. Ld. Sr. DR could not controvert this fact that the income has already been assessed on substantive basis in Assessment Year 2012-13. 5. We have heard the rival contentions and perused the material available on record. There is no dispute with regard to the fact that the addition was made on the protective basis. It is stated by the Ld. Counsel for the assessee that the assessment has bee....