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2016 (12) TMI 108 - ITAT PUNEConsideration received for relinquishing of rights in the land by the assessee - business income or capital gain - owners of the land subsequently entered into MOU with M/s. Esteem Construction Private Ltd. in respect of same land on as is where as basis. M/s. Esteem Construction Private Ltd. agreed to settle/negotiate with the earlier purchasers of land i.e. assessee and other 11 persons - Held that:- In case of all the assessees the amount received on relinquishing of rights in land situated at Mundhwa has been declared as capital gain. The Department has accepted the same. In such situation, we do not find any reason as to why in the case of present assessee alone, the Department has taken a different view. The case of the assessee is at par with all the other aforementioned persons. The Revenue should have taken a consistent view while treating the income of assessee which is arising from identical set of facts and from same series of transaction. The ld. DR has not been able to show any distinguishing feature in the case of assessee. The authorities below should have taken a consistent view while treating the income arising from the same series of transaction. It is not the case of Revenue that the assessee has indulged in sale-purchase of land/property on regular basis. The contention of the assessee that the transaction in question was the sole transaction remains unrebutted. Without going into the other arguments raised by the ld. AR we accept the appeal of the assessee on the ground of consistency alone. - Decided in favour of assessee
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