2021 (9) TMI 1244

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..... vi , JM This appeal by the Revenue against the order dated 01-12-2017 passed by the Commissioner of Income Tax (Appeals)-8, Pune ['CIT(A)'] for assessment year 2009-10. 2. The only ground raised by the Revenue challenging the action of CIT(A) in holding 50% of the sale consideration received in the year under consideration is chargeable to tax in the facts and circumstances of the case. .....

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..... land is to be taxed in the year under consideration. Accordingly, he held the share of assessee's sale consideration is at Rs. 36,45,12,750/- by giving effect to cost of acquisition of Rs. 51,62,320/- determined the capital gain in the hands of the assessee at Rs. 35,93,50,430/-. 4. In the First Appellate proceedings, the CIT(A) placed reliance in the case of Shri Rajendra S. Goel who is als .....

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..... he receipt of 50% of sale consideration by the assessee in the year under consideration. There is no order contrary to the view taken by the ITAT Pune Benches in the case of Shri Rajendra S. Goel brought on record and therefore, we find no infirmity in the order of CIT(A) and it is justified. 5. In the result, the appeal of Revenue is dismissed. Order pronounced in the open court on 16th Septemb .....

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