2016 (6) TMI 1451

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.... Shanker, DR. ORDER PER A.D. JAIN, JM ; This is the assessee's appeal for the assessment year 2007-08, against the order dated 26.05.2015, passed by the ld. CIT(A)-1, Jalandhar. The assessee has raised the following grounds of appeal: "1. That the order of worthy CIT(A, Jalandhar dated 0.5.06.2015 is against the law and facts of this case. 2. That the worthy CIT(A), has ....

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.... 30.10.2009 declaring therein an income of Rs.19,43,830/- plus agricultural income of Rs.96,000/-. The reassessment proceedings u/s 147 were initiated against the assessee, as the assessee had not declared entire long term capital gains accrued to him from transfer of his immovable property. In response to notice u/s 148, the assessee submitted that the revised return filed by him on 30.10.2009 ma....

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....ted 22.07.2015, passed in ITA No.200 of 2013 (O & M), reported at 279 ITR 330 (P&H). 5. The ld. DR, on the other, relied on the impugned order. 6. Having heard the rival contentions in the light of the material placed on record, we are of the view that the case of the assessee is squarely covered by the decision of the Hon'ble High Court of Punjab & Haryana in the case of "Charanjit Singh At....

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....tances; that from the cumulative effect of the covenants contained in the JDA read with the registered special power of attorney dated 26.02.2007, it could not be held that the mandatory requirements of section 53A of the Transfer Act were complied with, which stood incorporated in section 2(47)(v) of the Act; that once that was so, it could not be said that the assessees were liable to capital ga....