THE ACIT, CORP CIRCLE-1(2), KOCHI vs. M/S.KNOWELL REALTORS INDIA P. LTD, KOCHI

In the result, the Revenue’s appeals are allowed

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

2. The brief facts of the case are that the assessee-company, incorporated on 27.09.1996 (as M.A.Agencies India Private Limited), purchased land in FY 1996- 1997, commencing construction thereon in the following year, which continued up ITA Nos.192-193/Coch/2019 (AY 2012-2013 & 2015-16) Asst. CIT v. Knowell Realtors India (P.) Ltd. to FY 2003-2004, even as improvements thereto continued

THE ACIT, CORP CIRCLE-1(2), KOCHI vs. M/S.KNOWELL REALTORS INDIA P. LTD, KOCHI

In the result, the Revenue’s appeals are allowed