Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (9) TMI 600 - ITAT BANGALORECapital gain on the assessee's share of built up area in the project executed under JDA - CIT(A) held that the sale consideration should be adopted - assessee himself has offered profit from sale of constructed area received at ₹ 3,24,85,000/- on which tax was offered by assessee in the assessment years 2014-15 to 2016-17 - Held that:- Since the CIT(A) has adjudicated the issue in the light of jurisdictional High Court in the case of CIT Vs. Ved Prakash Rakhra [2012 (10) TMI 286 - KARNATAKA HIGH COURT] and also the Apex Court in the case Balbir Singh Maini [2017 (10) TMI 323 - SUPREME COURT OF INDIA], we find no infirmity in his order as the guidance value of the property was of ₹ 20 lakhs and the assessee himself has offered the higher value i.e., ₹ 37,60,000/- to tax. Therefore, we confirm the order of CIT(A). Accordingly, the appeal of the Revenue is dismissed.
|