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TMI Blog2017 (1) TMI 1568X X X X Extracts X X X X X X X X Extracts X X X X ..... ibility to capital gain in favour of the assessee and against the revenue wherein held as no possession had been given by the transferor to the transferee of the entire land in part performance of JDA so as to fall within the domain of Section 53A of 1882 Act. No addition on account of capital gain for which no consideration was received. - Decided in favour of assessee - ITA No. 682/CHD/2016 - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal against the case relied by the Ld-CIT (A) was pending before the Hon'ble Supreme Court as proposed by AO. 2. Brief facts of the case are that a housing society named as the Punjabi Cooperative House Building Society Ltd., Mohali consisting of 95 members was formed, which was owner of 21.2 acres of land at village Kansal, District Mohali. This society entered into a tripartite joint ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital gain relying upon the decision of ITAT Chandigarh Bench in the case of Charanjit Atwal in ITA 448/2011 . The Assessing Officer, accordingly, computed the capital gain at ₹ 1,83,25,000/- by taking into account the consideration receivable in cash at ₹ 82,50,000/- and value of one flat of 2250 sq.ft. @ ₹ 4500/- per sq.ft. for ₹ 1,10,25,000/-. The assessee has disclo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 39;ble Punjab Haryana High Court. However, none appeared on behalf of the assessee despite notifying the date of hearing. 5. After considering facts of the case in the light of submission of ld. DR, we do not find any merit in this departmental appeal. The identical addition on account of accrued capital gain have been deleted by Hon'ble Punjab Haryana High Court in the case of Shri C.S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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