2017 (1) TMI 1568

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....cted against the order of ld. CIT(Appeals)-I Chandigarh dated 15.03.2016 for assessment year 2007-08 on the following grounds: 1. On the facts & in the circumstances of the case and in law, the Ld.CIT(A) has erred in allowing appeal of the assessee without appreciating the facts of the case. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred....

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....ary consideration and also consideration in kind to the members of the society. The assessee was also member of the said society owning 500 sq.yds. land. Total consideration was settled at Rs. 82,50,000/- plus allotment of one flat of 2250 sq.ft. to the assessee. In view of the above reasons, proceedings under section 147/148 were initiated and assessee filed return of income declaring income of R....

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....been decided by Hon'ble Punjab & Haryana High Court in ITA 200 of 2013 vide order dated 22.07.2015 in favour of the assessee. The ld. CIT(Appeals) reproduced the conclusion of this judgement in the impugned order and following the decision of Hon'ble Punjab & Haryana High Court, deleted the addition of Rs. 1,52,82,465/- on account of capital gain for which no consideration was received. ....