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TMI Blog2017 (1) TMI 631X X X X Extracts X X X X X X X X Extracts X X X X ..... NA HIGH COURT ] This fact is not denied even by the Revenue. Since the issue has been decided by the higher authority and the learned CIT (Appeals) has passed the order following the decision of the Hon'ble Jurisdictional High Court, we find no reason to interfere in the same. In view of the same, all the grounds raised by the Revenue are dismissed. - ITA No. 1117/Chd/2016 - - - Dated:- 5-1-2017 - Shri Sanjay Garg, Judicial Member And Ms. Annapurna Gupta, Accountant Member Appellant by : Shri Manjit Singh, DR Respondent by : None ORDER Per Annapurna Gupta, A. M. The appeal filed by the Revenue is directed against the order of Ld. Commissioner of Income Tax (Appeals)-2, Chandigarh dated 17.8.2016 relating to asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The matter was carried in appeal before the Ld. CIT (Appeals) wherein it was brought to his notice that on identical facts, the issue in appeal had been decided by the Hon'ble Punjab Haryana High Court in the case of Shri C.S. Atwal (ITA No.200 of 2013). The Ld. CIT (Appeals) following the judgment of the Hon'ble Punjab Haryana High Court directed the Assessing Officer to recompute the short term capital gain only on the amount actually received by the assessee in pursuance to the said agreement. 4. Aggrieved by the same, the Revenue has now come up in appeal, raising the following grounds : 1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in holding that the parties had agreed f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loper was in complete control of the property and was in possession thereof including all rights of a defacto owner. 4. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in holding that the essential ingredients of Section 53A of the Transfer of Property Act 1882 were not fulfilled on the mere ground that the JDA was not registered whereas section 2(47)(v) of the Income Tax Act 1961 only refers to the contract of the nature referred to in section 53A of the Transfer of Property Act and the requirement of registration of agreement under section 53A of the Transfer of Property Act cannot be read into section 2(47)(v) of the Income Tax Act 1961 read with Section 2(47)(ii), 2(47)(vi), and explanation be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eyance deed disregarding the decision of the Supreme Court in Podar Cement ltd. holding that the principle of Common law, transfer of property Act and Registration Act were not conclusive for interpretation of provisions of Income Tax Act. 9. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in holding that the provisions of section 2(47)(ii) are not applicable whereas all the members of society surrendered their individual rights in the plots together with original purchase deeds in favour of society to be subsequently transferred to Tata Housing Development Company Limited (THDC) leading to extinguishment of rights in the plots. 5. Before us the Ld. DR vehemently argued that the Ld. CIT (Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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