Surinder Kumar v. ITO

Parties Involved

Facts Summary

Surinder Kumar, the appellant, filed an appeal against the order of the Commissioner of Income Tax (Appeals) National Faceless Appeal Centre (NFAC), Delhi dated 04.01.2024, which arose from the Assessment Order under section 143(3) dated 12.12.2018 passed by the Income Tax Officer, Ward-2(1), Bathinda in respect of Assessment Year: 2016-17. The appellant challenged the assessment of his income at Rs. 2,05,93,010/- as against the income Rs. 26,98,530/- declared in the revised Return of Income filed on 23.06.2017. The appellant also claimed exemption from Long Term Capital Gains arising from compulsory acquisition of land under the National Highway Act, 1956, by relying on Section 96 of the RFCTLARR Act, 2013 and clarificatory Circular No. 36/2016 (F. No. 225/88/2016-ITA.II) dated 25.10.2016.…

Legal Issues

• 1. The Ld. CIT(A), NFAC has erred on facts and law in confirming the action of the AO of assessing the income of the assessee at Rs. 2,05,93,010/- as against the income Rs. 26,98,530/- declared in the revised Return of Income filed on 23.06.2017.
• 2. The Ld. CIT(A) NFAC has not adjudicated the claim of exemption of the assessee, from Long Term Capital Gains, arising from compulsory acquisition of land under National Highway Act, 1956, by relying on Section 96 of the RFCTLARR Act, 2013 and clarificatory Circular No. 36/2016 (F. No. 225/88/2016-ITA.II) dated 25.10.2016, despite the fact that the detailed written submissions have been filed during the course of hearing before the CIT(A) NFAC.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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