2014 (3) TMI 893

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....al, Adv. Mr. Bajrang Manot, Adv. ORDER The Court: The subject matter of challenge in this appeal is a judgment and order dated 11th July, 2013 passed by the learned Income Tax Appellate Tribunal by which the views of the CIT (Appeal) were upheld and the appeal preferred by the revenue was dismissed. Aggrieved by the order of the Tribunal the revenue has come up before this Court. The l....

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....f the Income Tax Act admittedly the building has not been construed on a plan sanctioned by authority who is authorized to do so i.e. Zila Parishad"? 2. "Whether on the facts and circumstances of the case the order of the Learned Tribunal is perverse on facts as it has failed to give cognizance to the facts that deed of purchase did not mention the sale of land with a sanctioned plan and there ....

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....ck. But, Mr. Bhowmick argued that the land originally belonged to one Kadar Ali Biswas and Usuf Ali Biswas. The original owners had obtained the sanctioned building plan. The land was thereafter sold and the assessee had 1/18th interest in the land which was developed and the assessee claimed benefit for his share of the profit under Section 80IB(10). Mr. Bhowmick contended that since the assessee....