https://www.taxtmi.com/caselaws?id=262168 The tribunal allowed the assessee's appeals and dismissed the Revenue's appeals. The reassessment proceedings for the assessment years 2009-10 and 2010-11 were deemed invalid. The penalty under Section 271(1)(c) was deleted, and the land value was determined at Rs. 10.50 Crores as per the sale agreement. The sharing ratio of the developed project remained at 40%. en-us Fri, 26 Jun 2015 00:00:00 +0530 Mon, 03 Aug 2015 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262168 The tribunal allowed the assessee's appeals and dismissed the Revenue's appeals. The reassessment proceedings for the assessment years 2009-10 and 2010-11 were deemed invalid. The penalty under Section 271(1)(c) was deleted, and the land value was determined at Rs. 10.50 Crores as per the sale agreement. The sharing ratio of the developed project remained at 40%. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262168