M/S ESTIN TIE UP PVT. LTD.,KOLKATA vs. A.C.I.T., CENTRAL CIRCLE-1(2), KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishra

84,710/- was reported as consideration based on 33,169 sq ft. of built-up area claimed as first reported sale worked out @ ₹500/- sq ft of built-up area. The assessee was required to explain why the provisions of section 50C of the Act should not be applicable. In response, the assessee stated that the provisions of section

A.C.I.T.,CENTRAL CIRCLE-1(2), KOLKATA vs. M/S ESTIN TIE UP PVT. LTD., KOLKATA

In the result, the two cross appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes