ALLRUI SRINIVAS RAJU,HYDERABAD vs. DCIT, CIRCLE-12(1), HYDERABAD

ITA 1923/HYD/2025Status: DisposedITAT Hyderabad18 March 2026AY 2016-17Bench: SHRI VIJAY PAL RAO (Vice President), SHRI MADHUSUDAN SAWDIA (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that since the Revenue had accepted in the cases of other co-owners that no capital gain arose from the same JDA, it could not take a different stand for the present assessee, following the Supreme Court's decision in Union of India vs. Kaumudini Narayan Dalal. Therefore, the addition was directed to be deleted.

What were the facts?

The assessee entered into a Joint Development Agreement (JDA) for a sum of Rs. 12,47,22,564/-. The Assessing Officer (AO) reopened the assessment and treated the assessee's share in the JDA as long-term capital gain. The CIT(A) upheld the addition.

What were the issues?

Whether the transaction under the Joint Development Agreement (JDA) constitutes a 'transfer' for capital gains tax purposes, and whether the land was stock-in-trade or a capital asset.

Which sections of the Income-tax Act were involved?

Section 147,Section 144,Section 144B,Section 139,Section 148,Section 2(47)(v)

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Cases cited in this judgment(3)Show list

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Income Tax Appellate Tribunal, Hyderabad ‘B’ Bench, Hyderabad

Before: SHRI VIJAY PAL RAO & SHRI MADHUSUDAN SAWDIA

For Appellant: Dr. Narendra Kumar Naik, CIT-DR

PER MADHUSUDAN SAWDIA, A.M.: This appeal is filed by Shri Allrui Srinivas Raju, (“the assessee”), feeling aggrieved by the order passed by the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (“Ld. CIT(A)”) dated 17/10/2025 for the A.Y.2016-17. Allrui Srinivas Raju vs. DCIT

2.

The assessee has raised the following rounds of appeal:

“Under facts and circumstances of the case

1.

The Appellant order of the Learned Commissioner of

The order continues below.

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