2019 (2) TMI 644

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....MA CHOWLA, JM: The appeal filed by Revenue is against order of CIT(A)-6, Pune, dated 14.09.2016 relating to assessment year 2011-12 against order passed under section 143(3) of the Income-tax Act, 1961 (in short 'the Act'). 2. The Revenue has raised the following grounds of appeal:- 1. Whether on the facts and in the circumstances of the case, the Ld.CIT(A) has erred in accepting th....

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....e FSI for land acquired by PCMC for road was used in the project even when FSI/FAR is a tradable commodity in the form of TDRs and hence condition of area prescribed in clause (b) can be fulfilled based on the land against which FSI/FAR are issued. 5. Whether on the facts and circumstances of the case, the CIT(A) has erred while interpreting the CBDT circular No.5/2005 dated 15.07.2005 to....

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.... 6. We have heard the rival contentions and perused the record. Briefly, in the facts of the case, plea of assessee was that it had plot area of 4074 sq.mtrs., out of which road acquisition area was reserved of 513.80 sq.mtrs. and on the remaining area of 3560.20 sq.mtrs. the housing project was built. The assessee for the first time made the aforesaid claim in assessment year 2008-09 and the same....