ITO (Intl.Tax), Chennai v. Aboobucker

M/S. Global Arkitekts Pvt. Ltd., Chennai vs. ITO, Corporate Circle - 2 (2), Chennai

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

…cultural land in the absence of evidence that the land is put to use for agricultural purposes. Reliance has also been placed on the decision of Chennai Tribunal in Shri A. V. Anoop vs. ACIT (ITA No.461/Mds/2013) as well as the decision in ITO V/s Aboobukcer (67 Taxmann.com 114). The Ld. Sr. DR also controverted the fact that the possession was handed over on 24.01.2007 since the document was not registered one and the same was not endorsed by any witnesses. Having heard rival submissions and considering the case laws cited before us, our adjudication would be as under. The assessee being resident corporate asses…