2013 (9) TMI 969

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....of the Income Tax, 1961 (?Act? for short) impugns order dated 25.06.2010, passed by the Income Tax Appellate Tribunal in the case M/s. Lahsa Construction Pvt. Ltd. on the ground of perversity. The appeal pertains to the Assessment Year 1999-2000. (incorrectly mentioned in the impugned order as assessment year 2006-07). 2. Property in question bearing No.C-20, NDSE, South Ex., Part-II, New Delhi....

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....de by the assessing officer. The respondent/assessee had disclosed sale consideration of as Rs.39,00,000/- for sale of their 50% share, in the property to Mrs. Madhu Arora. Mrs. Madhu Arora and Mr. Om Prakash Arora paid an amount of Rs.44,00,000/- to the four individual co-owners for purchase of the balance 50% share. Thus, in all they had shown sale consideration of Rs.83,00,000/-, instead of Rs.....