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2017 (1) TMI 631 - AT - Income TaxCapital gain computation - consideration received - pro-rata transfer of land - Transfer exigible to tax by reference to Section 2(47)(v) read with Section 53-A of the Transfer of Property Act, 1882 - JDA entered by assessee - Held that:- We find no infirmity in the order of the learned CIT (Appeals) in directing the Assessing Officer to recompute the short term capital gain on the amount actual received by the assessee. We find that the aforestated directions have been given by the CIT (Appeals) following the judgment of the Hon'ble Punjab & Haryana High Court on the identical issue in case of Shri C.S. Atwal [2015 (7) TMI 878 - PUNJAB & HARYANA HIGH COURT ] This fact is not denied even by the Revenue. Since the issue has been decided by the higher authority and the learned CIT (Appeals) has passed the order following the decision of the Hon'ble Jurisdictional High Court, we find no reason to interfere in the same. In view of the same, all the grounds raised by the Revenue are dismissed.
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