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
ITA 86/CTK/2024[2015-16]Status: HeardITAT Cuttack04 Jun 2024AY 2015-16
For Appellant: Shri S.K.Agrawalla, CAFor Respondent: Shri S.C.Mohanty, Sr. DR
Section 147Section 148Section 151Section 271(1)(b)Section 271(1)(c)Section 69A
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
