SMT. SANJUKTA PRUSTY,BHUBANESWAR vs. ITO, WARD-3(5), BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2013-14

Capital Gain after taking exemption U/s.54F of the I.T.Act 1961. The copy of the acknowledgement along with the hard copy of the return are enclosed in the paper book-1 submitted on 08.01.2018 and marked as Annexure-C (page-31 to 40) for you honour's kind perusal. 5.8 That under the above said facts and circumstances of the case

K.P. PRIME ASSETS PVT. LTD.,CUTTACK vs. ACIT, CIRCLE-2(1) , CUTTACK

In the result, the appeal of the assessee and revenue are allowed for statistical purposes

12. To start with arguments, Ld. Sr. DR submitted that the main objective of the assessee-company being real-estate business, the activity of purchase of land and selling of some portion of it can be very well treated as business income and not short-term capital gain. The expenses claimed by the assessee are not genuine and payments claimed

ACIT, CIRCLE- 2(1), CUTTACK vs. K P PRIME ASSETS (P) LTD. , CUTTACK

In the result, the appeal of the assessee and revenue are allowed for statistical purposes

12. To start with arguments, Ld. Sr. DR submitted that the main objective of the assessee-company being real-estate business, the activity of purchase of land and selling of some portion of it can be very well treated as business income and not short-term capital gain. The expenses claimed by the assessee are not genuine and payments claimed