2025 (9) TMI 1370

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...., 2025. In the first week of February, 2025, again the assessee was admitted in the said hospital for medical treatment of recurrent Urinary Tract Infection with Pyelonephritis, Uncontrolled T2 Diabetes Mellitus. Therefore, the assessee had underwent medical treatment as inpatient from 02.02.2025 to 16.02.2025 and also filed copies of the two medical certificates to the affidavit. Further, at the time of discharge from the Hospital i.e., on 16.02.2025, the doctors have advised the assessee for one month rest i.e. till middle of February, 2025, for restoration of health. Further, it was the submissions of the assessee that, he was contemplating to entrust the preparation and filing of appeal before the Hon'ble ITAT to an Advocate at Hyderabad and accordingly, as per the advice of the Advocate, the appeal was prepared and filed before the Tribunal on 14.03.2025. He submitted that, reckoning the period of two months from the end of the month in which the appellate order was passed by the learned CIT(A), there is a delay of 104 days in filing the appeal before the Tribunal. He submitted that, due to the above medical grounds, he could not file appeal before the Tribunal within the ....

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....n 15.06.2011 with M/s. Sheshachala PG College, Puttur to rent-out his property. The assessee has also sold immovable property to the tune of Rs. 40,68,000/-. The assessee has not admitted rental income and capital gains. Therefore, assessment has been reopened under section 147 of the Income Tax Act, 1961 [in short "the Act"] on the ground that, income chargeable to tax has been escaped assessment. A notice under section 148 of the Act dated 29.03.2019 was issued and served on the assessee. As there was no compliance from the assessee to the notice issued under section 148 of the Act, a letter dated 13.08.2019 was issued to the assessee, requiring him to file the return of income. But, there is no response from the assessee to the letter too. Hence, a show-cause notice under section 144 of the Act dated 25.11.2019 was issued to the assessee, proposing additions towards capital gain derived from sale of property. Once again, the assessee did not choose to file any response to the show-cause notice. Therefore, the Assessing Officer passed best Judgment assessment order under section 144 r.w.s.148 of the Income Tax Act, 1961 and determined the total income of the assessee at Rs. 47,68....

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....- per square feet on a total constructed area of 2255.5 square feet on the building existed in the ground floor and directed the Assessing Officer to allow deduction towards cost of acquisition against sale of property for a consideration of Rs. 31,40,000/-. In so far as second property sold for an amount of Rs. 9,28,000/-, the learned CIT(A) has not allowed any deduction towards cost of acquisition on the ground that, assessee could not furnish any evidence for purchase of property. 7. Aggrieved by the order of the learned CIT(A) the assessee is now, in appeal before The Tribunal. 8. Sri S. Rama Rao, Advocate-Learned Counsel for the Assessee referring to Sale Deed for sale of the property no.1 for a consideration of Rs. 31,40,000/- submitted that, as per the Schedule of the property appearing in the Sale Deed, there is a two floor building consisting of 2255.5 square feet on the ground floor and 2255.5 square feet on the first floor of the building. But, the learned CIT(A) has allowed deduction towards cost of acquisition of property only in respect of 2255.5 square feet in ground floor and has not considered the building in first floor. He, therefore, submitted that, since ....

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....or sale of two properties, there is no dispute with regard to consideration received for transfer of property. In fact, the Assessing Officer has also not disputed the consideration received for sale of property. The only dispute is with regard to cost of acquisition of the property being purchase cost of property and construction of building. As per the recitals of the Sale Deed including relevant Schedule provided therein in respect of sale of property for a consideration of Rs. 31,40,000/-, there is a building to the extent of 2255.5 square feet in ground floor and first floor. The learned CIT(A) allowed deduction towards cost of construction of building to the extent of 2255.5 square feet existed on the ground floor of the property. In respect of building existed on the first floor of the property, the learned CIT(A) has not allowed any deduction. In so far as the rate of construction of the property the learned CIT(A) has adopted Rs. 261/- per square feet as cost of construction of the building. The only dispute is with regard to year of construction. The assessee has claimed that, the building was constructed in the year 2002-2003, for which, he refers to the recitals of the ....