2026 (5) TMI 100

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....R SINGH GODARA, JM This assessee's appeal for assessment year 2013-14 arises against the Principal Commissioner of Income Tax [in short, the "PCIT"], Faridabad's order dated 17.03.2021 having DIN and order no. ITBA/REV/F/REV5/2020-21/1031564514(1), involving proceedings under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'). Heard both the parties. Case file ....

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....terating their respective stands against and in support of the learned PCIT's section 263 revision directions herein. The first and foremost issue which arises for the tribunal's apt adjudication therefrom is that of the assessee's total sale consideration of Rs. 9.50 crores as per the learned PCIT's revision directions. We wish to make it clear that there is no dispute all along that the assessee....

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.... have gone unrebutted from the departmental side. Faced with this situation, learned CIT/DR vehemently argues that apart from the assessee's sale consideration amount, the PCIT has further directed the Assessing Officer to examine the assessment of long-term capital gains in the assessee hands. 5. It is at this stage that the assessee refers to paper-book pages 88 onwards in the CIT(A)/NFAC's o....