SAROSH YAZDANI,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

gains. Thus the order of the A.O. estimating NP @20% should be restored and that of the CIT(A) be reversed.” 3. At the time of hearing, it was fairly agreed by both the sides that the issues involved in these appeals are squarely covered by the decision of the Co-ordinate Bench of this Tribunal in the case

SAROSH YAZDANI,BHUBANESWAR vs. ACIT, CIRCLE-1(2), BHUBANESWAR, BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

gains. Thus the order of the A.O. estimating NP @20% should be restored and that of the CIT(A) be reversed.” 3. At the time of hearing, it was fairly agreed by both the sides that the issues involved in these appeals are squarely covered by the decision of the Co-ordinate Bench of this Tribunal in the case

SAROSH YAZDANI,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

gains. Thus the order of the A.O. estimating NP @20% should be restored and that of the CIT(A) be reversed.” 3. At the time of hearing, it was fairly agreed by both the sides that the issues involved in these appeals are squarely covered by the decision of the Co-ordinate Bench of this Tribunal in the case

SAROSH YAZDANI,BHUBANESWAR vs. ACIT, CIRCLE-1(2), BHUBANESWAR, BHUBANESWAR

In the result, all the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

gains. Thus the order of the A.O. estimating NP @20% should be restored and that of the CIT(A) be reversed.” 3. At the time of hearing, it was fairly agreed by both the sides that the issues involved in these appeals are squarely covered by the decision of the Co-ordinate Bench of this Tribunal in the case

SAROSH YAZDANI,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAAR

In the result, all the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No A No.53/Ctk/2013: Assessment Year Assessment Years :2004-05 It(Ss)A No A No.54/Ctk/2013: Assessment Year Assessment Years :2005-06 It(Ss)A No A No.55/Ctk/2013: Assessment Year Assessment Years :2007-08 It(Ss)A No A No.67/Ctk/2013: Assessment Year Assessment Years :2006-07 It(Ss)A No A No.68/Ctk/2013: Assessment Year Assessment Years :2008-09

gains. Thus the order of the A.O. estimating NP @20% should be restored and that of the CIT(A) be reversed.” 3. At the time of hearing, it was fairly agreed by both the sides that the issues involved in these appeals are squarely covered by the decision of the Co-ordinate Bench of this Tribunal in the case

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR vs. INCOME TAX OFFICER,NFAC,DELHI, NFAC DELHI

In the result, all the four appeals of the assessee are allowed

capital gain whereas the assessee is a Real Estate developer and registered the flats valued at Rs.4,28,44,600 on which the income was recognised under the completed contract method, which had been accounted for in the financial statements of the assessee and also discharge the due tax liability, therefore the additions of Rs.5,56,94,020 is liable

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR,ODISHA

In the result, all the four appeals of the assessee are allowed

capital gain whereas the assessee is a Real Estate developer and registered the flats valued at Rs.4,28,44,600 on which the income was recognised under the completed contract method, which had been accounted for in the financial statements of the assessee and also discharge the due tax liability, therefore the additions of Rs.5,56,94,020 is liable

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR,ODISHA vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR

In the result, all the four appeals of the assessee are allowed

capital gain whereas the assessee is a Real Estate developer and registered the flats valued at Rs.4,28,44,600 on which the income was recognised under the completed contract method, which had been accounted for in the financial statements of the assessee and also discharge the due tax liability, therefore the additions of Rs.5,56,94,020 is liable

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR,ODISHA vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR

In the result, all the four appeals of the assessee are allowed

capital gain whereas the assessee is a Real Estate developer and registered the flats valued at Rs.4,28,44,600 on which the income was recognised under the completed contract method, which had been accounted for in the financial statements of the assessee and also discharge the due tax liability, therefore the additions of Rs.5,56,94,020 is liable