Venus County Developers Pvt. Ltd. vs. The ACIT

Parties Involved

Facts Summary

This is an appeal filed by the assessee under section 253 of the Income Tax Act, 1961. The relevant assessment year is 2011-12. The assessee is aggrieved by the order dated 12/07/2023 passed in appeal No. 10505/2018-19/IT/CIT(A)-5/Ldh/2019-20 under section 250(6) of Ld. CIT(A) which is hereinafter referred to as the impugned order. The assessee has raised several grounds of appeal against the impugned order, including that the Learned CIT (A)-5, Ludhiana erred in passing the order without considering their reply filed on 24.06.2023 and that the disallowance of payment of Rs. 33,63,555/- incurred on purchase of agriculture land u/s 40A(3) of the Income Tax Act, 1961 was erroneous.…

Legal Issues

• 1. Whether the Learned CIT (A)-5, Ludhiana erred in passing the order without considering the assessee's reply filed on 24.06.2023?
• 2. Whether the disallowance of payment of Rs. 33,63,555/- incurred on purchase of agriculture land u/s 40A(3) of the Income Tax Act, 1961 was erroneous?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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