INCOME TAX OFFICER, PURI vs. KRUSHNA CHANDRA PUJAPANDA, PURI

In the result, appeal of the revenue stands partly allowed for statistical purposes and the cross objection of the assessee stands dismissed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.448/Ctk/2024 C.O. No.06/Ctk/2025 ("नधा"रण वष" / Assessment Year : 2022-23) Income Tax Officer, Aayakar Vs Krushna Chandra Pujapanda, Bhavan, Penthakata, Puri Matimandap Sahi, H.O.Puri Town, Puri. Pan No. : Abdpp 0879 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri Ashok Kumar Chatterjee, Ca : Shri Ashim Kumar Chakraborty, Ld Cit राज"व क" ओर से /Revenue By Dr सुनवाई क" तार"ख / Date Of Hearing : 5 /12/2025 घोषणा क" तार"ख/Date Of Pronouncement : 5 /12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Revenue Against The Order Dated 4.9.2024 Passed By Ld Cit(A), Nfac, Delhi In Appeal No.Nfac/2021-22/10363554 For The Assessment Year 2022-23. 2. The Cross Objection Is Filed By The Assessee In Appeal Filed By The Revenue In Ita No.448/Ctk/2024. 3. Shri Ashok Kumar Chatterjee, Ld Ar Appeared For The Assessee & Shri Ashim Kumar Chakraborty, Ld Cit Dr Appeared For The Revenue.

property has taken place from M/s. Peerless Hotels Ltd., to M/s. Pujari Estate & Developers Pvt Ltd., it was submitted that the position still remains as advance only and the transfer has not taken place. It was the further submission that the ld CIT(A) has granted the benefit of section 54F of the Act and that should be upheld