2025 (7) TMI 1373

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssed for A.Y. 2012-13. 2. The assessee has raised the following grounds of appeal: "1. On the facts and in the circumstances of the case as well as the law on the subject, the learned Assessing Officer of the Income Tax (Appeals) has erred in confirming the action of the re-opening the assessment u/s. 147 of the act and issuing notice u/s. 148 of the Income Tax Act, 1961 2. On the facts and in the circumstances of the case as well as the law on the subject, the learned Commissioner of the Income Tax (Appeals) has erred in confirming the action of the assessing officer in making addition of Rs. 65,02,000/- on account of Long term capital gain on Sale of immovable property. 3. On the facts and in the circumstance....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... dated 08.02.2012 bore the signature of the assessee, which raised doubt regarding the timing and authenticity of the transaction. In light of these facts the Assessing Officer held that even if the assessee had expired before the execution of sale deed the legal heir must have received the sale consideration. However, the legal heir failed to disclose this transaction or file the return of income for the Assessment Year (AY) 2012-13. Consequently, the capital gains arising from this transaction remained undisclosed. In the absence of any return or explanation, the Assessing Officer treated the entire amount of Rs. 65,02,000/- as long-term capital gain. A final show-cause notice was issued on 23.10.2019, giving the assessee an opportunity t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed on record, it is seen that the assessee had expired on 10.11.2011. The Counsel for the assessee submitted that the sale deed was signed by the assessee two months prior to it's registration and accordingly, there was a mismatch between the date of registration of sale deed and the date of which the assessee has deceased. However, it is an undisputed fact that the asessee has expired on 10.11.2011. Further, we note that during the course of assessment proceedings, the legal heir of the assessee had produced necessary certificate to show that the assessee had expired. We note that though the assessee had expired on 10.11.2011, the assessment order was passed by the Assessing Officer on 30.10.2019, almost after a gap of eight years from the....