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2014 (12) TMI 1277 - AT - Income TaxAssessment of income in the hands of the director of the company - Short Term Capital Gain - sale of land - whether land was in the name of the Director, which was subsequently transferred in the name of the company i.e. M/s GFFR Pvt. Ltd.? - Held that:- The agricultural land was purchased on behalf of the company in the name of the director, which has been reflected in the balance sheet of the company M/s GFFR Pvt. Ltd. as on 31/3/2008. The property was also sold through director on behalf of the company and short term capital gain has been shown in the return of the company. Therefore, there is no logic to assess the same in the income in the hands of the director of the company. Accordingly, we confirm the order of the learned CIT(A). - Decided against revenue
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