TaxTMI 
TaxTMI 
2024 (4) TMI 130
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....olution Panel failed to appreciate that Form No. 35A filed by the Appellant (and signed by CA. Ms. Priyanka Jain) on 17. 10.2022 was in accordance with the law, and therefore, the Dispute Resolution Panel erred in issuing the notice dated 06.04.2023 to the Appellant purporting to treat the said CA. Ms. Priyanka Jain as the 'agent of the Appellant for the purpose of section 163(1) of the Act. 3. Without prejudice to the above, the Dispute Resolution Panel erred in treating Form No. 35A filed by the Appellant (and signed by him) on 19.05.2023 as 'not filed'/ 'filed beyond time, and hence, dismissing the objections filed by the Appellant in limine. The Dispute Resolution Panel failed to appreciate that by the Form No. 35A fil....
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....r Rs. 2,93,00,000/-. Out of the capital gain of Rs. 104,07,700/- the assessee has invested Rs. 50,00,000/- in the capital gain bond scheme as per Sec. 54EC of the Act and offered tax on remaining capital gains of Rs. 54,07,700/-. On verification of the detail filed the assessing officer noticed that assessee has claimed deduction of Rs. 17,58,000/- and Rs. 30,000/- pertaining to stamp duty and registration charges of Rs. 2,20,000/- in respect of society transfer fees paid by the assessee out of the aforesaid capital gain amount. The assessing officer has disallowed the claim of aforesaid expenses on the ground that assessee has not furnished the supporting document regarding making payment of aforesaid expenditure claimed by the assessee. ....
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....88,000/-. The assessee has also paid society transfer fees amounting to Rs. 2,20,000/-. The assessee has also referred copy of sale agreement and copy of bank statement of Axis Bank in support of his claim of making payment of aforesaid expenses. The assessing officer has disallowed the claim of such expenses merely on the ground that the Dispute Resolution Panel has treated the original Form 35A as not filed. In this regard, we find that assessee has already filed original form 35A within the time limit, however, same was corrected as pointed out by the DRP on the ground that authorized representative was not the right person to sign form 35A. After considering the above facts it is evident that assessee has made correction in the form 35A....