TMI Blog2021 (9) TMI 1244X X X X Extracts X X X X X X X X Extracts X X X X ..... PUNE] and applying the principle laid down by the ITAT Pune Benches deleted the addition made by the AO by holding the capital gain is chargeable to 50% of the consideration which has been received in the year under consideration. CIT(A) discussed the issue in detail and we find no dispute with appellant-Revenue regarding the receipt of 50% of sale consideration by the assessee in the year un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received in the year under consideration is chargeable to tax in the facts and circumstances of the case. 3. The brief facts relating to the issue on hand are that the assessee is an individual and engaged in the business of development and construction in real estate. The assessee along with others sold a land admeasuring approximately 70 acres at Wagholi to M/s. Wagholi Properties Pvt. Ltd. f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,93,50,430/-. 4. In the First Appellate proceedings, the CIT(A) placed reliance in the case of Shri Rajendra S. Goel who is also party to the above said transaction along with others including the assessee before us. It was contended that ITAT Pune Benches in the case of Shri Rajendra S. Goel held that the 50% of sale consideration received during the A.Y. 2009-10 therein is liable to be charge ..... X X X X Extracts X X X X X X X X Extracts X X X X
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