https://www.taxtmi.com/caselaws?id=443533 The Tribunal quashed previous orders and directed further investigation by the Assessing Officer regarding the profits/gains earned by the assessee on the transfer of land pertaining to villas sold. The Tribunal emphasized the need for factual verification of the sale consideration received, discrepancies in dates of cheques, and completion status of the construction work. The issue was restored to the Assessing Officer for determining actual sale consideration and verifying project completion percentage before making a decision. The Revenue's appeal was treated as allowed for statistical purposes. en-us Thu, 27 Jul 2023 00:00:00 +0530 Tue, 26 Sep 2023 08:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443533 The Tribunal quashed previous orders and directed further investigation by the Assessing Officer regarding the profits/gains earned by the assessee on the transfer of land pertaining to villas sold. The Tribunal emphasized the need for factual verification of the sale consideration received, discrepancies in dates of cheques, and completion status of the construction work. The issue was restored to the Assessing Officer for determining actual sale consideration and verifying project completion percentage before making a decision. The Revenue's appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443533