2021 (9) TMI 1244

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hadke ORDER Per S. S. Viswanethra Ravi , JM This appeal by the Revenue against the order dated 01-12-2017 passed by the Commissioner of Income Tax (Appeals)-8, Pune ['CIT(A)'] for assessment year 2009-10. 2. The only ground raised by the Revenue challenging the action of CIT(A) in holding 50% of the sale consideration received in the year under consideration is chargeable to ta....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., then, the income arising from the sale of said land is to be taxed in the year under consideration. Accordingly, he held the share of assessee's sale consideration is at Rs. 36,45,12,750/- by giving effect to cost of acquisition of Rs. 51,62,320/- determined the capital gain in the hands of the assessee at Rs. 35,93,50,430/-. 4. In the First Appellate proceedings, the CIT(A) placed relian....