Module Developers Pvt. Ltd. Vs ACIT, NFAC/ITO Ward-10(2), Kolkata

Parties Involved

Facts Summary

This is an appeal filed by the assessee, Module Developers Pvt. Ltd., against the order dated 13.06.2025, passed by the Id. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2020-2021. The Assessing Officer had brought to tax the difference between the stamp value and the agreement value in respect of development agreements entered into by the assessee. The assessee argued that no transfer of any property had taken place and that the agreements were supplementary agreements, development agreements, gift deeds, and power of attorneys. The assessee had responded to various notices issued by the Assessing Officer and had filed an adjournment application before the ld. CIT(A), which was dismissed ex-parte.…

Legal Issues

• 1. Whether the Assessing Officer correctly brought to tax the difference between the stamp value and the agreement value in respect of development agreements.
• 2. Whether the appeal was rightly dismissed by the ld. CIT(A) for non-representation.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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