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2010 (11) TMI 655 - ITAT, BANGALOREDisallowance of payment of compensation - agreement in respect of sale of rights in properties - failure to fulfill the conditions of the agreement - Partnership firm versus individual capacity of the partners - whether the agreement entered into by Shri Dayanand Pai with M/s MIPL and also subsequently with M/s CALL is in his individual capacity or in the capacity as the Managing Partner of the assessee firm - it was held by the CIT(A) that the joint development agreements have been entered into only after the agreement has been entered into on 02-04-2002 and therefore, the assessee or Shri Dayanand Pai, for that matter, had no right in the said properties to transfer the same - it is the case of the assessee that it is the beneficiary of the said agreement and therefore, will have to fulfill the liability of paying the compensation - Appeal is allowed by way of remand to AO with a direction to examine the parties to the agreements and also to examine the joint development agreements and to reconsider the issue in accordance with law.
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