SAI VISHWA PROMOTERS BUILDERS AND DEVELOPERS,PUNE vs. ITO WARD 3(4), PUNE
IN THE INCOME TAX APPELLATE TRIBUNAL
PUNE BENCH “B”, PUNE
BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER
AND SHRI VINAY BHAMORE, JUDICIAL MEMBER
आयकर अपील सं. / ITA No.59/PUN/2020
िनधाᭅरण वषᭅ / Assessment Year : 2009-10
Sai
Vishwa
Promoters
Builders And Developers,
S.No.82/23,
Near
Ashish
Garden, Kothrud,
Pune- 411038. PAN : ABKFS9649A
Vs. ITO, Ward-3(4), Pune.
Appellant
Respondent
आदेश / ORDER
PER VINAY BHAMORE, JM:
This appeal filed by the assessee is directed against the order dated 18.10.2019 passed by Ld. CIT(A)-3, Pune. [‘Ld. CIT(A)’] for the assessment year 2009-10. 2. The appellant has raised the following grounds of appeal :-
“1)
On the facts and in the circumstances of the case the Learned
Commissioner of Income Tax (Appeals) 3 erred in rejecting claim of expenses of Rs. 12,00,000/- being part of the consideration for transfer of development rights/purchase price of the property.
2)
The Learned Commissioner of Income Tax (Appeals) 3 erred in rejecting the appellant's claim of Rs. 60,00,000/- being cost of Assessee by : Smt. Deepa Khare
Revenue by : Shri Akhilesh Srivastva
Date of hearing
: 30.07.2025
Date of pronouncement : 16.10.2025
2
construction for agreed area given to the owners and forming part of consideration for transfer.
3)
The appellant craves leave to add, amend, alter or delete any of the grounds of appeal.”
Facts of the case, in brief, are that the assessee is a partnership firm engaged in the business of promoters, developers and builders. The assessee has not furnished its return of income for the period under consideration. The assessee firm was in possession of Transferable Development Right (TDR), received from Pune Municipal Corporation. This TDR was sold on 07.04.2008 for a consideration of Rs.85,00,000/- and the agreement of sale of TDR was registered at Sub-