https://www.taxtmi.com/caselaws?id=326690 The tribunal upheld the CIT (A) order, considering the non-refundable deposit as the actual consideration received by the assessee and directing the taxation of long-term gain accordingly. The tribunal emphasized that the builder had already paid taxes on the profits, preventing double taxation on the same amount. The appeals of the revenue were dismissed, and the cross-objections of the assessee were also dismissed as infructuous. en-us Mon, 14 Mar 2016 00:00:00 +0530 Fri, 22 Apr 2016 08:49:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326690 The tribunal upheld the CIT (A) order, considering the non-refundable deposit as the actual consideration received by the assessee and directing the taxation of long-term gain accordingly. The tribunal emphasized that the builder had already paid taxes on the profits, preventing double taxation on the same amount. The appeals of the revenue were dismissed, and the cross-objections of the assessee were also dismissed as infructuous. Case-Laws Income Tax Mon, 14 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326690