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TMI Blog2018 (9) TMI 1095X X X X Extracts X X X X X X X X Extracts X X X X ..... pacity - Tribunal deleting the addition on the ground that no material has been brought on record in respect of the assessment made - survey under Section 133A - Held that:- The assessee firm was merely a confirming party and no consideration was received by the assessee firm with respect to the transaction of transfer of certain lands and that the transaction was in favour of the partners of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER ( PER : HONOURABLE MR.JUSTICE M.R. SHAH) 1. Feeling aggrieved and dissatisfied with the impugned order passed by the learned ITAT dated 27.07.2017 passed in IAT No.2870/Ahd/2013 for Assessment Year 2010-11, the Revenue has preferred the present Tax Appeal with the following proposed questions of law:- Whether the Appellate Tribunal was right in law and on facts i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ived by the assessee). The Assessing Officer made the aforesaid addition on the ground that the assessee firm signed in the sale deed as confirming party, which, as such, was between the partners of the assessee firm in their individual capacity. However, on an appeal by the assessee, the learned CIT (Appeals) deleted the addition of ₹ 4,72,31,590/- observing that when the assessee firm as s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eration was received by the assessee firm with respect to the transaction of transfer of certain lands and that the transaction was in favour of the partners of the firm in their individual capacity and that no similar addition was made in the hands of those partners in their individual accounts and that as such, the addition was made by the Assessing Officer in hands of the assessee as protectiv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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