TaxTMI 
TaxTMI 
2021 (11) TMI 1016
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....f the Income-tax Act, 1961 ("the Act" in short) [ITA No.593/Ahd/2019] and against the order of the learned CIT(A) dated 23.01.2019 arising out of order passed under Section 154 of the Act [ITA No.592/Ahd/2019], both for Assessment Year 2009-10. 2. First we take up ITA No.593/Ahd/2019. It is an appeal filed by the assessee against the order of the learned CIT(A) dated 26.08.2013. The Registry has pointed out that the appeal of the assessee is time barred by 1969 days. In order to explain the delay, the assessee has filed a letter dated 5th April 2019, along with the appeal paper. This letter reads as under:- "From: Shri Hardik Suryakant Shah Prakash Chemicals Agencies Mahajan Lane, Roapura, Vadodara. Date: 05.04.2019 To, Inc....
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....IT(A). The only argument raised in the application is that there were co-owners in whose cases a valuation report was called for from the DVO and they were waiting the outcome of those appeals. The learned Counsel for the assessee also contended that since it was an addition made under Section 50C of the Income-tax Act by assuming the sale consideration equivalent to the amount on which stamp duty was paid; therefore it was necessary to ascertain the true value of the property under Section 50C(2) of the Act. This exercise was going on in the case of other co-owners and, therefore, the assessee did not file the appeal. When the appeals of the other co-owners have been decided, the assessee also thought to file the appeal. We are not impress....
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....eemed to have received the sale consideration at Rs. 6,21,581/- and, on the basis of this amount, the capital gain was to be computed. The assessee filed an application within four years from the date of the order of the learned CIT(A) pleading therein that there is an apparent error in the order. This application of the assessee has been rejected by the learned CIT(A) on the ground that when the appeal was decided there was no apparent error, because this document was not available. 5. With the assistance of the learned representatives we have gone through the record carefully. The nine co-owners have sold the property and the co-owners have equivalent shares i.e. 1/9 in each hand. Under subclause (2) of Section 50C of the Act, the Assess....