2015 (11) TMI 1612

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..... or the subsequent years. The order was ultimately passed in 2012 when the actuals were available. The actuals had been called for by the respondents and had been supplied by the petitioner. Yet, only the projections were taken into account and the actuals were ignored. The grievance of the petitioner is that the relief relating to capital gains tax ought to have been construed on the basis of actu .....

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..... the order dated 29.11.2012 passed by the Joint Director of Income Tax (Recovery) is that the relief relating to capital gains tax under Section 45 on sale of assets has been disallowed on the basis of projected figures and not on the basis of actual figures. When the proposal was submitted by the petitioner to the respondents in 2008, the same was based on projections for the subsequent years. The .....

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