2024 (8) TMI 1228

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....OUNTANT MEMBER:- This appeal by the assessee is preferred against the order of the ld. CIT(A) - 12, New Delhi dated 18.01.2019 pertaining to A.Y. 2014- 15. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the assessment order wherein the Assessing Officer has made addition of Rs. 20,54,688/- and Rs. 19,45,312/- u/s 69A and 69C respectively r.w.s 11....

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....ing Officer completed assessment by recharacterizing the income surrendered by the assessee as income u/s 69A of the Act and made addition of Rs. 20,54,688/- and further made addition of Rs. 19,45,312/- u/s 69C of the Act being long term capital gain in the hands of the wife of the assessee. 6. When the addition was challenged before the ld. CIT(A), he dismissed the appeal holding that the assess....

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....ave given thoughtful consideration to the orders of the authorities below and have carefully considered the relevant documentary evidence brought on record. It is equally true that while giving answer to Question No. 29, exhibited at page 4 of the assessment order, the assessee admitted that he has earned long term capital gain of Rs. 40 lakhs along with his wife which has been claimed as exempt i....

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....her add that a reading of section 115BBE of the Act makes it clear that the special rate of tax provided under the said provisions shall be applicable under two conditions. Firstly, where the total income includes any income referred to in 6 ITA Nos. 1344 /Del/2021- AY: 2017-18 sections 68, 69A, 69B, 69C or 69D and reflected in the return of income under Section 139 of the Act. Secondly, if the in....