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of <h1>Appeals Concluded: Land Sale Proceeds Included as Long Term Capital Gains for 2014-15, Confirms Tax Liability.</h1> <h3>The Pr. Commissioner of Income Tax-2 Pune Versus Neeraj Horticulturists Pvt Ltd. And Nupoora Developers Pvt. Ltd.</h3> The Bombay HC concluded the appeals by affirming the ITAT's decision to include proceeds from the land sale in the taxable income for the assessment year ... LTCG included in taxable income - HELD THAT:- Paragraph no.6 of the order [2017 (1) TMI 1765 - ITAT PUNE] reads as under -“6. The assessee has requested vide the above mentioned submissions that the amount of Rs. 9,90,20,875/- may now be included in his taxable income for the A.Y. 2014-15. In view of these facts and as per the directions of the ITAT discussed above, the amount being balance consideration on account of sale of land at Wagholi is being taxed in the hands of the assessee in the A.Y. 2014-15 as Long Term Capital Gains.” In view of paragraph no.6 above, appeals do not survive. Appeals disposed. The Bombay High Court disposed of appeals as the amount from the sale of land was included in the taxable income for the assessment year 2014-15 as Long Term Capital Gains based on the order of the Income Tax Appellate Tribunal.
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