2023 (1) TMI 1252

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....ri T. Kr. Majumdar, Advocate For the Respondent : Shri P.P. Barman, Addl. CIT ORDER Per Rajesh Kumar, AM: This is the appeal preferred by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi (hereinafter referred to as the Ld. CIT(A)"] dated 21.07.2022 for the AY 2019-20. 2. The assessee has challenged the order passed by the Ld. CIT(A....

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....from the sale of property amounting to Rs. 23,25,200/- was adjusted against the said investments in bonds and consequently the gain from the sale property was shown as Nil. However, while processing the return,the AO added long term capital gain amounting to Rs. 1,05,76,745/- to the total income of the assessee by taking the stamp value as the deemed consideration. 4. Aggrieved by the order of ....

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....ellant has not availed any opportunity to do so. Total non-compliance on the part of the appellant leaves me with no option other than deciding the appeal judiciously, based on materials available on record. 4.5. Despite being given numerous opportunities of being heard appellant has not filed any written submissions. The intimations u/s 143(1) dated 23.10.2020 filed alongwith Form 35 sho....

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....the sale consideration being lower than the stamp value , then he is duty bound to refer to the DVO for determining the market value of the property and only then the addition could have been made. We note that Ld. CIT(A) decided the appeal ex-parte when the assessee did not appear on the various dates given. The assessee on the other hand pleads that it could not avail respond as the notices coul....