PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S ORCHID GRIHA NIRMAN PVT LTD

Bench: : The Hon’Ble Justice T.S. Sivagnanam A N D The Hon’Ble Justice Hiranmay Bhattacharyya Dated January 31, 2022. [Via Video Conference] Appearance : Mr. P.K. Bhowmick, Adv. Mr. Asok Bhowmick, Adv. … For The Appellant Mr. J.P. Khaitan, Sr. Adv. Ms. Swapna Das, Adv. Mr. Siddharth Das, Adv. ..For The Respondent The Court :- We Have Heard Mr. P.K. Bhowmick, Learned Standing Counsel For The Appellant/Revenue Duly Assisted By Mr. Asok

Section 45(3) does not seek to substitute by any other figure the value agreed between the partners at which the asset is transferred by a partner to the firm. 16. With regard to the revaluation, tribunal re-appreciated the facts which were considered by the CITA. With regard to the development of the area in question

PRINCIPAL COMMISSIONER OF INCOME TAX 9, KOLKATA vs. PUSPA DEVI TIKMANI

In the result, these appeals are allowed and the substantial