2020 (3) TMI 1405

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.... This appeal is filed by the Assessee against the order of the Ld. Commissioner of Income Tax [Appeals-XXV], New Delhi dated 12.09.2014 pertaining to assessment year 2011-12 on the following grounds:- 1. Because the order is bad in law and facts of the case since the income from selling the plot was shown in the profit and loss account as business income while the ITO has assessed inco....

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....it may kindly be granted. 2. Facts narrated by the revenue authorities are not disputed by both the parties, hence, the same are not being repeated here for the sake of convenience. 3. At the time of hearing, Ld. Counsel for the assessee stated that he is not pressing other grounds raised by the assessee. He further stated that at the time of filing the appeal, issue regarding applicability ....

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....only require consideration on the applicability of section 50C of the I.T. Act in the case of the assessee in respect of the lease hold right in land. 6. After hearing both the parties and perusing the records, especially the orders passed by the revenue authorities and the grounds raised by the assessee in which the assessee has raised legal grounds. But at the time of hearing he is not pressi....