2025 (10) TMI 422

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....DR ORDER PER SATBEER SINGH GODARA, JUDICIAL MEMBER: This assessee's appeal for Assessment Year 2016-17, arises against the CIT(A)/NFAC, Delhi's DIN & order No. ITBA/NFAC/S/250/2023-24/1054853837(1) dated 03.08.2023, in proceedings u/s 147 of the Income Tax Act, 1961 (in short "the Act"). 2. Heard both the parties at length. Case file perused. 3. Suffice to say, the sole substantive ....

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.... Revenue could hardly dispute that the impugned statutory provision is pari materia to section 50C of the Act applicable in case of capital gain arising from sale/transfer of the specified capital asset "land and building" only. Faced with this situation, learned departmental representative quotes Vidarbha Veneere Industries Ltd. vs. ITO (2025) 174 taxmann.com 223 (Bom.) that the impugned statutor....