2019 (2) TMI 1343

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..... ORDER PER MAHAVIR PRASAD, JUDICIAL MEMBER 1. This appeal by the Revenue is directed against the order of the Ld. CIT(A)-2, Vadodara dated 09.11.2016 pertaining to A.Y. 2007-08 and that whether on facts and in the circumstances of the case that ld. CIT(A) justified in deleting the LTCG of Rs. 1,83,76,000/- holding that it has been wrongly assessed in the hands of the assessee. 2. In this case, a .....

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..... it has come to the knowledge of the Assessing Officer that a sale deed has been effected in respect of immovable property and the declared consideration was Rs. 2.00 crores. The sale is executed in favour of Tanman Fivnest Pvt. Ltd. by the assessee along with another co-owner Smt. Gangaben Raojibhai Patel with M/s. Johnson Electric Co. Pvt. Ltd. as a confirming party. Thereafter Assessing Officer .....

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..... property by Jhonson Electric Co. Pvt. Ltd. to Tanman Finvest Pvt. Ltd. vide Deed of Conveyance dated 08.05.2007 would result capital gain in the hands of Jhonson Electric Co. Pvt. Ltd. only. It is worthwhile to mention here that the Long Term Capital Gain on the basis of Deed of Conveyance dated 08.05.2007 has been assessed in the case of Jhonson Electric Co. Pvt. Ltd. vide an order u/s. 143(3) r .....

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