2022 (4) TMI 110

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....: This appeal by the assessee is arising out of the order of Learned Commissioner of Income Tax (Appeals)-12, Chennai in ITA No.5/CIT(A)-12/2018-19 dated 31.12.2018. The assessment was framed by the ACIT, Non-corporate Ward 10(1), Chennai for the assessment year 2014-15 vide order dated 29.12.2017 u/s. 143(3) of the Income Tax Act, 1961 (hereinafter 'the Act'). 2. At the outset, the ld.AR for th....

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....construction, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a) or, as the case may be, clause (b), of sub- section (1) shall be deemed to be income chargeable under the head "Capital gains" relating to long-term capital assets of the previous year in which such new asset is t....

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....n of capital gains has been correctly done and the same is confirmed. 13. No submission has been filed in respect of the addition. No repair expenses can be claimed over and above the statutory deduction. No satisfactory evidences produced to show that loans were taken for the purpose of purchase/construction/improvement of the property. In the absence of the above, addition is confirmed. 14. ....

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....he ld.AR before us stated that the CIT(A) was keen on completing the case without providing reasonable opportunity to submit the paper book in support of grounds of appeal. The ld.AR further stated that the chartered accountant who had filed the assessee's return of income was nonagenarian and discontinued the practice. It was difficult for the assessee to get details and particulars from the char....