SC : Dismisses Revenue's appeal against HC order deleting capital gains addition pursuant to JDA

Oct 04,2017

SC dismisses Revenue’s appeal against Punjab and Haryana HC ruling in a bunch of over 50 cases including Balbir Singh Maini (the lead case); HC had ruled in favour of assessee-individuals (members of various co-operative societies)  and had deleted capital gains addition made by AO pursuant to co-operative societies entering into a joint development agreement (‘JDA’) with the developers; HC had held that absent registration of J...

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