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2018 (7) TMI 2363 - HC - Income TaxSale of immovable property as stock-in-trade - lands which are subject matter of the JDA - as decided by ITAT when an immovable property is held as stock-in-trade the same is to be considered as sold only when the sale is conveyed by means of a registered sale deed and not before that - CIT (A) has also expressed the same view in the impugned order in the case on hand and the said view in our considered opinion is in order HELD THAT - As Revenue submitted that for the next Assessment Year 2010-11 also and other subsequent years some appeals are pending before the learned Tribunal and therefore these observations a sale being made only on registered sale deed may come in the way of the Revenue and adversely affect the interest of Revenue. To this argument Assessee submitted that the Tribunal may decide those appeals un-influenced by these observations and all contentions of the parties may be kept open. We are of the opinion that no substantial question of law in the present appeal filed by Revenue for Assessment Year 2009-10 would arise for our consideration.
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