S.SUNDARAMURTHY Vs. PRINCIPAL COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The petitioner is aggrieved against the order of the first respondent dated 26.03.2019, wherein and whereby, the petition filed under Section 264 of the Income Tax Act, was dismissed.

(2.) The case of the petitioner is as follows:-

(3.) The respondent filed a counter affidavit wherein, it is stated that the order passed by the first respondent cannot be considered prejudicial to the interests of the assessee as the first respondent did not give any new finding on the issue or any other issue and the order dismissing the petition, can only be considered as an order covered by the Explanation 1 to Section 264. It is also stated therein that the Assessing Officer found that the land sold by the assessee was not an agricultural land at the time of its sale and hence, disallowed the claim under Section 54B of the Act. It is further stated that the first respondent has, after due consideration of the materials produced during the course of the proceedings under Section 264, found that the petitioner had failed to produce any evidence for carrying out agricultural activity, in the land sold by the petitioner.