KHEM SINGH,DELHI V. ITO WARD 67(7), NEW DELHI

ITA 4548/DEL/2025

AI Insights

The case involves an appeal by Khem Singh against the order of the National Faceless Appeal Centre (NFAC), which upheld the assessment of long-term capital gains amounting to Rs. 9,78,125/- for the assessment year 2012-13. The primary contention was regarding the assessment of the assessee's 1/4th share in the sale consideration as long-term capital gain without allowing any benefit of part acquisition and indexation as prescribed under sections 48 and 49 of the Income-tax Act, 1961. The Tribunal decided to remand the issue back to the Assessing Officer for a detailed examination and proper application of the law.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 771978 (ITAT-DELHI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Assessment Year: 2012-2013
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Capital Gains
• Section: 147; 143(3)

Judgement Text

"1 ITA No. 4548/Del/2025 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER ITA No. 4548/Del/2025 Assessment Year: 2012-13 Khem Singh, House No. 7, Sawan Park Guru Ravidas Mandir Stree, Ashok Vihar Phase III Delhi-110052, Delhi. PAN: AYGPS 8517 A Vs Income Tax Officer, Ward-67(7), New Delhi. APPELLANT RESPONDENT Assessee represented by Shri V.K. Sabharwal & Shri Rajiv Kumar & Shri Anil Verma & Shri Aayush Verma, Adv. Department represented by Shri Manoj Kumar, Sr. DR Date of hearing 28.08.2025 Date of pronouncement 28.08.2025 O R D E R PER SATBEER SINGH GODARA, J.M: This assessee’s appeal for assessment year 2012-13 arises against National Faceless Appeal Centre (NFAC) Delhi’s’ order dated 22.05.2025 [DIN & Order No. ITBA/NFAC/S/250/2025-26/1076367673(1)] in proceedings u/s 147 r.w.s. 143(3) of the Income-tax Act, 1961, hereinafter referred to as the ‘Act’. Heard both the parties. Case file perused. Printed from counselvise.com 2 ITA No. 4548/Del/2025 2. Coming to the solitary substantive issue between the parties, it transpires during the course of hearing that both the learned lower authorities have assessed long term capital gains amounting to Rs. 9,78,125/- in the assessee’s hands, in assessment order dated 31.10.2019 as upheld in the lower appellate discussion. 3. That being the case, the Revenue could hardly dispute that the learned Assessing Officer has assessed the assessee’s 1/4th share in sale consideration as his long term capital gain without allowing any benefit of part acquisition as well as indexation thereof, as prescribed u/s 48 r.w.s. 49 of the Act. It is thus deemed appropriate to restore the instant issue back to the learned Assessing Officer for his appropriate adjudication and verification as per law preferably within three effective opportunities of hearing. Ordered accordingly. No other ground or argument has been pressed. 4. This assessee’s appeal ITA 4548/Del/2025 is partly allowed for statistical purposes. Order pronounced in open court on 28.08.2025. Sd/- (SATBEER SINGH GODARA) JUDICIAL MEMBER Dated: 28.08.2025. *MP* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI Printed from counselvise.com "