2025 (8) TMI 124

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....014-15. 2. In this case, New Okhla Industrial Development Authority (in short "NOIDA") vide lease deed dated 03.06.1999 allotted certain land measuring 5010 sq. mtr. to HCL Perot Systems Pvt. Ltd. for 90 years' lease starting from 03.06.1999, for developing the housing scheme for its employees. The Assessee being an employee of the said company and a member of the housing scheme, was allotted a residential flat under the scheme plotted on dated 24.09.1998 and therefore has paid his contribution/earnest money from 24.09.1998 onwards totaling to Rs. 6,30,000/- as detailed below, and obtained receipt No.000017 dated 30.06.1999 from the developer {kindly refer to page no 3 of Assessment Order. "A. Rs. 75,000/- Dtd. 24.09.1998 ....

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....- on the sale of said property". 6. The Assessee, being aggrieved, challenged the said addition/disallowance/determination of STCG of Rs. 24,18,000/- before the Ld. Commissioner, who, vide impugned order and by specifically mentioning in the para No.7 of the order "to the effect that 5 notices were issued to the Assessee, however, the Assessee did not respond and made no compliance" ultimately dismissed the appeal of the Assessee for non-prosecution as well as by giving finding that "as per the details available on record, there is nothing to controvert the findings of the AO and therefore all the grounds raised in appeal are hereby dismissed. In the event I have no reason to interfere with the findings of the AO. Hence, the order of the....

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....is an admitted fact that the Ld. Commissioner vide letter dated 30.04.2019 (supra) has specifically sought for the remand report from the AO, who vide remand report dated 25.09.2019 submitted the same, however, in the impugned order, nothing mentioned about the remand report. Thus whatsoever it may be, at this particular stage, this Court is inclined not to go into the controversy, whether the Assessee has ever filed any document or not. As the Assessee on dated 24.09.1998 was allotted flat in the residential scheme of HCL Perot Systems Pvt. Ltd. and paid certain amounts {Rs. 6,30,000/- in total as earnest money} as acknowledged vide receipt No.000017 as mentioned in the assessment order (page no. 3) and therefore, the rights of the Assesse....

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....oard that in cases of allotment of flats or houses by cooperative societies or other institutions whose schemes of allotment and consideration are similar to those of D.D.A., similar view should be taken as was done in the board circular dated 15th October, 1986. In the circular dated 16th December, 1993 the board clarified as under: "2. The Board has considered the matter and has decided that if the terms of the schemes of allotment and construction of flats/houses by the cooperative societies or other institutions are similar to those mentioned in para 2 of Board's Circular No.471, dated 15-10-1986, such cases may also be treated as cases of construction for the purposes of sections 54 and 54F of the Incometax Act." ....