2025 (10) TMI 192

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....ORDER PER SANJAY GARG, JUDICIAL MEMBER: The captioned appeal has been preferred by the assessee against the order dated 01.11.2022 of the Ld. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre, Delhi [hereinafter referred to as Ld. 'CIT(A)'] u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as the "Act") for Assessment Year (AY) 2015-16. 2. The appeal of the ....

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....observing that the assessee had executed a JDA with the developer and that on execution of the JDA, transfer of the land as per the provisions of section 2(24) of the Act was complete. He, therefore, calculated the notional income that accrued to the assessee on execution of the JDA. However, in the grounds of appeal, the assessee has specifically pleaded that the said JDA did not mature, the deve....