2022 (7) TMI 965

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..... Respondent Through: Ms. Ananya Kapoor, Advocate. J U D G M E N T MANMOHAN, J (Oral): 1. At the outset, learned counsel for the appellant prays that paragraph 2.3 of the present appeal be deleted. Accordingly, the said paragraph 2.3 is deleted. 2. It is pertinent to mention that the present appeal has been filed challenging the Order dated 1st November, 2019 passed by the Income Ta....

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....see's own case. The assessment order in the present case was passed on 9th April, 2014 in pursuance of the decision dated 21st March, 2012 of the Authority of Advance Ruling ('AAR'). Assessee preferred a writ petition against the said order of the AAR, which was disposed of by this Court in favour of the assessee vide order dated 30^th July, 2014 in WP(C) 1648/2013 with the following observations:....

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.... 31. Thus, in terms of the policy of the Government, the petitioner could invest in a project of the requisite size/nature and an investment into CCDs would be reckoned as equity. The policy with regard to external commercial borrowings had other conditions and it is apparent that the petitioner found the investment in CCDs as the most appropriate route for making its investment in real estate, i....