In the result, the appeal of the assessee is allowed for\nstatistical purposes
Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM\nआयकर अपील सं./ITA. No. 1156/JPR/2024\nनिर्धारण वर्ष / Assessment Years : 2015-16\nMustafa Katthawala\nProp. Shakti Steels, Near Reliance\nPetrol Pump Jhalawar Road, IPIA\nKota.-324005.\nबनाम | The DCIT/ACIT,\nVs.\nCircle-2,\nKota.\nस्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AGPPK5043C\nअपीलार्थी / Appellant\nप्रत्यर्थी / Respondent\nनिर्धारिती की ओर से / Assessee by :Shri Devang Gargieya, Adv.\nराजस्व की ओर से / Reven
gain of Rs.\n1,71,87,500/- (12.50% of Rs.13,75,00,000/-) for the relevant year stating\nthat:\n1. S. 45(2) of the Act is not applicable since capital asset is not treated as\nstock in trade since the asset were not transferred gather given to Tirupati\nInfraprojects for development project.\n2. The Id. AO alleged that