2016 (7) TMI 1393

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.... Mr. Kalpesh Turalkar for the respondent. ORDER: 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 25th July, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 200708. 2. This appeal raises the following question of law for our consideration : "( i) Whether on the facts a....

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.... asset. It is the case of the revenue that Section 50C of the Act would apply also to transfer of leasehold interest in land and is not limited to only to transfer of land and building or both. 4. The impugned order of the Tribunal allowed the respondent - assessee's appeal by following its own decision in Atul G. Puranik V. ITO reported in 58 DTR 208 on identical issue. The Tribunal in Atu....