The Income-tax Officer, Ward-6(2), Nagpur v. Devidas Govindrao Kirpane
[Citation -2016-LL-0919-11]
Citation | 2016-LL-0919-11 |
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Appellant Name | The Income-tax Officer, Ward-6(2), Nagpur |
Respondent Name | Devidas Govindrao Kirpane |
Court | ITAT-Nagpur |
Relevant Act | Income-tax |
Date of Order | 19/09/2016 |
Assessment Year | 2009-10 |
Judgment | View Judgment |
Keyword Tags | real estate business • capital gain tax • natural justice • sale of land |
Bot Summary: | Whether on the facts and circumstances of the case and in law the Learned CIT(Appeals) has erred in deciding the issue by relying only on the submission of the assessee that he agreed to pay the taxes treating the profit as short term capital gain by misconception , without appreciating the fact that the assessee is guided by a professional i.e. the Chartered Accountant expected to be completely diligent, cautious and careful while preparing and finalizing the business affairs of his/her client. The assessee has claimed the same to be agricultural land. Before the learned CIT(Appeals) the assessee submitted that the assessee had erroneously accepted to pay tax in the aforesaid sale of agricultural land. Before the learned CIT(Appeals) the assessee changed its stance and claimed that it was on account of wrongful advise that he had agreed to pay the tax. Thereafter the learned CIT(Appeals) examined the assessee s submission and came to the conclusion that the assessee s claim was correct. After the AO has been stopped in making any further enquiry/investigation by the admission of the assessee in offering the sale of land as capital gain it was incumbent upon the learned CIT(Appeals) to send the submissions of the assessee regarding his claim of agricultural land for remand/examination by the AO. Admittedly in this case learned CIT(Appeals) has not done any such activity. The AO deserves the chance to examine the submission of the assessee before the learned CIT(Appeals). |