https://www.taxtmi.com/caselaws?id=215800 The ITAT, Pune allowed the appeal filed by the assessee, setting aside the disallowance of Rs. 78,75,000/- imposed by the CIT(A)-III, Pune. The ITAT concluded that the transaction involving the purchase and sale of Transfer of Development Rights (TDR) was legitimate, supported by proper documentation and tax payments. Emphasizing that the sister concern had paid tax on the profit earned, the ITAT found no grounds for disallowing the inflated sales in the hands of the assessee. The judgment favored the assessee, rejecting the Assessing Officer's allegation of tax evasion through inflated purchase costs of TDR. en-us Thu, 28 Jun 2012 00:00:00 +0530 Sat, 18 Aug 2012 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215800 The ITAT, Pune allowed the appeal filed by the assessee, setting aside the disallowance of Rs. 78,75,000/- imposed by the CIT(A)-III, Pune. The ITAT concluded that the transaction involving the purchase and sale of Transfer of Development Rights (TDR) was legitimate, supported by proper documentation and tax payments. Emphasizing that the sister concern had paid tax on the profit earned, the ITAT found no grounds for disallowing the inflated sales in the hands of the assessee. The judgment favored the assessee, rejecting the Assessing Officer's allegation of tax evasion through inflated purchase costs of TDR. Case-Laws Income Tax Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215800