2025 (2) TMI 1440

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....r on the following grounds of appeal: "On the facts and in the circumstances of the case and in law the Ld. CIT(A) at NFAC, Delhi erred in- i. Dismissing appeal against order passed U/s 144 of the Act without giving reasonable and proper opportunity of hearing: ii. Determining taxable income at Rs. 29,50,000/- against return income in a sum of Rs. 28,40,840/- iii. Confirming the addition of Rs. 29,50,000/- on account of long term capital gains. The above actions being arbitrary, erroneous and unwarranted must be quashed with directions for appropriate relief." 3. Brief facts of the case are that assessee is an individual and filed his return of income on 28/10/2017 declaring total income of Rs....

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....d in the litigation but the tenant had not vacated the premises. Therefore, in the year April, 2012, the assessee has decided to sale the said shop to the tenant only as no other person was agreed to buy the said shop. Due to these peculiar facts and compelling circumstances, assessee had left with no other option and agreed to sale the said shop to the tenant for Rs. 15,00,000/- and had received Rs. 14,50,000/- in month of April, 2012 and balance amount was agreed to be paid at the time of execution of the sale deed. Since, the circle rate of the said property was Rs. 44,50,000/- when the sale agreement was executed in 2012, therefore, AO made addition of the differential amount of Rs. 29,50,000/-. The AR further submits that the circumsta....