2026 (4) TMI 1706

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....s. Ankita Prakash, Mr. Abhyudaya Shankar Bajpai, Mr. Sohum Dua, Ms. Saloni Ray, Mr. Ghunaim Siddiqui and Ms. Manvi, Advs. For the Respondent Through: Mr. Abhishek Maratha, Sr. Standing Counsel, Mr. Apoorv Agarwal Jr. SCs, Ms Nupur Sharma, Adv. ORDER 1. By way of present appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act of 1961'), the appellant has ....

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....,01,361/-. 4. Subsequently, the appellant sold the land and building for a sum of Rs. 68,83,50,000/- and the petitioner calculated the capital gain keeping the cost of acquisition of land and building at Rs. 20,93,29,162/- and paid for. 5. The Assessing Officer (AO) however, did not agree with the appellant's stand and recalculated the capital gain keeping the value of the land as shown in t....

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....ing is factually incorrect, rather contrary because in previous line itself, the Tribunal has observed that the assessee has filed depreciation schedule prepared for the purpose of income tax. 10. Be that as it may. He submitted that there may be a typographical or inadvertent error in the order of Tribunal. He further argued that in view of the certificate issued by the competent authority on ....

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....e appropriate authority under the provision of Section 269UD of the Act of 1961 has a necessary bearing. Given that said certificate was relied upon before the AO and cited before the Tribunal, it was incumbent upon the Tribunal to have pronounced upon its effect. 13. The appeal is, therefore, partly allowed. 14. The impugned order dated 03.01.2025 passed by the Tribunal is set aside to the ....