2023 (8) TMI 1187

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....nt : Shri AR V Sreenivasan (Addl.CIT)- Ld. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2014-15 arises out of the order of the learned Commissioner of Income Tax (Appeals)-10, Chennai [CIT(A)] dated 27-01-2020 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w s. 147 of the Act on 27-12-2018. Th....

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....essee claimed deduction u/s. 54B which has been denied for want of evidences. Drawing our attention to para 5.2(ii) of the impugned order, the Ld.AR submitted that additional evidences filed by the assessee, in this regard, were not admitted by the first appellate Authority. In the said background, Ld. AR submitted that the assessment may be restored back to Ld. AO keeping all the issues open. The....

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....nd and the land is situated more than 8 kms. away from nearest Tambaram municipality. In other words, the assessee submitted that the said land was agricultural land and it could not be considered as a capital asset. 3.2 However, the Census Officer, vide letter dated 13-11-2018, informed that as per census 2011, population of Tambaram municipality was 1.75 Lacs. As per amendment provisions of S....

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....rnished new evidences to support the fact that property was not a capital asset. However, in absence of application for admission of new evidences under Rule 46A, said evidences were not admitted. The Ld. CIT(A) also held that since TDS was deducted on sale consideration u/s. 194IA and the assessee claimed credit of TDS, the sale consideration would be taxable in the hands of the assessee. Accordi....