DCIT, Central Circle-1, Faridabad, Haryana Vs Empire Realtech Pvt. Ltd.
Case No: ITA No. 4288/Del/2017
Court: Income Tax Appellate Tribunal, Delhi Bench ‘B’, New Delhi
Date: 2/24/2025
Parties Involved
appellantDCIT, Central Circle-1, Faridabad, Haryana
respondentEmpire Realtech Pvt. Ltd.
Facts Summary
This case involves a Revenue’s appeal and assessee’s cross objection for Assessment Year 2012-13, arising against the CIT (A)-3, Gurgaon’s order dated 05.04.2017, in proceedings under section 153A(1)(b) read with section 143(3) of the Income Tax Act, 1961. The Revenue’s appeal raises issues regarding the deletion of an addition made under section 40A(2)(b) and the validity of land transactions. The assessee’s cross objection challenges the validity of the assessment order, arguing that it was ma…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the CIT(A) was right in deleting the addition of Rs. 22,22,41,401/- made under section 40A(2)(b) of the IT Act.
- 2. Whether the CIT(A) erred in ignoring the fact that the lands of the specified persons/their close relatives were adjoining/contemporary in period.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
8 precedents cited in this judgement.