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| The Tax Publishers2021 TaxPub(DT) 1203 (Mad-HC) CONSTITUTION OF INDIA, 1950
Article 226 Section 48
Case of the assessee cannot be entertained in absence of any document particularly in absence of documents to substantiate that there was a concluded sale agreement in respect of two properties by petitioner's father during his lifetime and petitioner's father may also have had independent transactions and merely by looking at banking transactions in the Bank Passbook, one cannot determine existence of any concluded sale agreement. Therefore, no relief can be granted to petitioner.
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Writ - LTCG on sale of property - There was no document by assessee to substantiate that there was a concluded sale agreement in respect of two properties -
Petitioner challenged the assessment orders passed by Revenue by which income from long-term capital of petitioner from sale of property was re-computed and accordingly petitioner was called upon to pay differential taxes. Petitioner along with her sister sold a property which sale was apparently negotiated by their father during his lifetime. However, before the sale could be completed, their father passed away and therefore, the buyers negotiated the sale price with petitioner and concluded the sale in respect of two parcels of land. It was the contention of petitioner that Authority ought not to have adopted higher value as the price of the land in 2012 had increased manifold time and that the sale price was negotiated by petitioner's father during his lifetime in 2010. Held: Though it is the case of petitioner that sales of the properties were negotiated by her father during his lifetime and had received an advance of Rs. 50 lakhs in respect of the first property on various dates and manifold increase in the guideline value by the Registration Department in 2012 cannot be the basis to countermand the value as adopted in the sale agreement. Such submission cannot be entertained in absence of any document, particularly in absence of documents to substantiate that there was a concluded sale agreement in respect of these properties by the petitioner's father during his lifetime. Petitioner's father may also have had independent transactions and merely by looking at banking transactions in the Bank Passbook, one cannot determine existence of any concluded sale agreement. Court cannot conclude that the value adopted by the petitioner reflected the correct value for purpose of payment of stamp duty. Therefore, no relief can be granted to the petitioner.
REFERRED :
FAVOUR : Petition dismissed.
A.Y. : 2014-15
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