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INCOME TAX APPELLATE TRIBUNAL (AHMEDABAD BENCH)
T.R. Senthil Kumar, J, Makarand V. Mahadeokar, AM
GALAXY DEVELOPERS AHMEDABAD – Appellant
Versus
THE ACIT. CIRCLE-7(2) AHMEDABAD – Respondent
| Table of Content |
|---|
| 1. introduction of the case and factual background. (Para 1 , 2 , 3) |
| 2. assessment officer's observations and taxpayer's objections. (Para 4 , 5 , 6 , 7 , 8) |
| 3. arguments presented by both parties. (Para 9 , 10 , 11 , 12 , 13) |
| 4. court's observations on the legal issues. (Para 14 , 15 , 16 , 17 , 18) |
| 5. court's ratio decidendi concerning taxation of unsold flats. (Para 19 , 20 , 21) |
| 6. final decision and conclusion of the appeal. (Para 22 , 23 , 24 , 25 , 26) |
ORDER आदेश
PER MAKARAND V.MAHADEOKAR, AM:
This appeal by the assessee is directed against the order dated 30.06.2024 passed by the Office of the Learned Commissioner of Income Tax (Appeals) - Additional/Joint CIT - 8, Delhi [hereinafter referred to as “Ld. CIT(A)”], under section 250 of the Income Tax Act, 1961 [hereinafter referred to as “the Act”] for the assessment year 2017–18, whereby the Ld. CIT(A) upheld the assessment order passed by the Assistant Commissioner of Income Tax, Circle-7(2), Ahmedabad [hereinafter referred to as “the AO”] under section 143(3) of the Act dated 23.12.2019.
Facts of the Case
2. The assessee, a partnership firm engaged in the business of real estate development and land trading, filed it
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