DCIT, CENTRAL CIRCLE - 2(1), NAGPUR vs. KHARE AND TARKUNDE INFRASTRUCTURE PRIVATE LIMITED, NAGPUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roydcit, Central Circle-2(1), Khare & Tarkunde Nagpur Vs Infrastructure Pvt. Ltd., 235, Shivaji Complex, Dharmpeth, Nagpur Pan : Aaack 7184 N Department Assessee Assessee By : Shri Sachin V. Luthra, Ca Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 25.02.2026 Date Of Pronouncement : 21.04.2026 O R D E R

1) of the Act were issued and served upon the assessee. In response to the notices issued, assessee made submissions and on perusal of the documents so submitted, Ld. AO noticed that during the assessee sold Transferable Developmental Rights (TDRs) of Rs. 6,51,63,000/-, but the market value was of Rs.12,08,35,000/- Ld. AO further observed