DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL), JABALPUR vs. TARUN DEVCON PRIVATE LIMITED, JABALPUR

In the result, the Revenues’ appeal is dismissed in terms of the foregoing

Bench: Shri N.R.S. Ganesan & Shri Sanjay Arora

gain on building instead, with some difference in amount as well, which though could be on account of some deduction/s from the sale price inasmuch as the two appear to pertain to the same transaction. The AO shall verify the assessee’s balance in the creditors’ accounts as on 31/3/2015. Subject to the said confirmations, to be made

JOINT COMMISSIONER OF INCOME TAX (IN- SITU), CENTRAL CIRCLE, JABALPUR, JABALPUR vs. MANISH KUMAR SAROGI, KATNI