2022 (5) TMI 1213

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....T-DR ORDER Per Yogesh Kumar U. S., Judicial Member This appeal has been filed by the assessee against the order of the Ld. CIT(A)-IV, Kanpur dated 16.01.2017. 2. Brief facts of the case are that, during the year under consideration, the assessee had sold plot on which long term capital gain (LTCG) of Rs. 22,62,367/- has been declared in his return of income filed under Section 139 of t....

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....ital gains is in accordance with the provision of Section 54F of the Act, which is available with reference to the quantum of 'net consideration' received on the transfer giving rise to the capital gains and the cost of newly acquired house property and not with reference to the immediate source of the money for its acquisition besides proceedings u/s. 153 Aof the Act are aimed at making d....

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.... has been initiated against the assessee and penalty order came to be passed under section 217(1)(c) of the Act on 14-08-2015 by imposing a minimum penalty of Rs. 1,76,940/- upon the assessee. 4. As against the penalty order dated 14-08-2015, the assessee had preferred an appeal before the CIT(A)-IV, Kanpur. The CIT(A) vide order dated 16.01.2017 dismissed the appeal in the absence of the asses....

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....ppeal is that the Ld. CIT(A) has upheld the order passed by the AO without considering the facts and circumstances of the appellant's case set out in his statement of facts itself. On perusal of the Order of the Ld. CIT(A), we found that on 02/12/2016, 26/12/2016 and on 12/01/2017 none appeared for the assessee and application seeking adjournment is also not filed, and therefore, the Ld. CIT(A....