Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 220 - AT - Income TaxRevision u/s 263 - setting aside the assessment order by the CIT in respect of land premium - Held that:- In the present case, the CIT has directed the Assessing Officer to make necessary examination regarding the extent of land acquired by the assessee with reference to which land premium of ₹ 3,50,00,000/- was demanded and rate at which said land was acquired and to whom the lands were sold and land premium was received and such receipts on account of transfer fees and stamp duty would constitute capital receipts. We are of the opinion that the Assessing Officer will make enquiries as directed by the CIT and make fresh assessment. Accordingly, we uphold the order of the CIT and dismiss the ground of appeal of the assessee.
|