SH. RAGHUNATH SAHAI PURI(DECD),PATHANKOT vs. THE DEPTY COMMISSIONER OF INCOME TAX, PATHANKOT
In the result, the appeal of the assessee is partly allowed
ITA 633/ASR/2014[2007-08]Status: DisposedITAT Amritsar19 Dec 2019AY 2007-08
Bench: Sh. N. K. Choudhry & Sh. O. P. Meenai.T.A. No. 633/Asr/2014 Assessment Year: 2007-08
For Appellant: Sh. J. S. Bhasin (Adv.)For Respondent: Sh. Alok Kumar CIT-DR
Section 250(6)Section 271(1)(c)Section 45Section 48
sections 2(47)(ii), 2(47)(v) and 2(47)(vi) of the Act. In view of the Joint Development Agreement, the owner had, at the time of making the agreement, irrevocably and unequivocally granted and assigned in perpetuity all its rights to develop, construct, mortgage, lease, license, sell and transfer the property, i.e., 27.3 acres of land alongwith
