along with the work of development of
basic common infrastructure amenities like construction of roads, common plots etc.
installing of electric light-poles
possession of
the plot, that it was not the owner of the plot and there was no
transfer of the plot by the assessee ... possession of the plot for
the purpose of common management. The plot was originally
allotted to the 14 co-operative housing societies by the Bombay
satisfied by the explanation given that the plot could not be sold without giving the common road and approach roads and therefore the total area ... that the difference was because of common road and approach roads which were also sold along with plot. Therefore order of CIT(A) that
Hatkesh Co.op. Hsg. Soc. Ltd. Asst. CIT, Circle 21(1),
Plot No.51, Jai Hind Society, 6th Floor, Pratyakshakar Bhavan,
2nd Floor, Jai Hind ... these
appeals being common, the same were taken up together for hearing together, and are
being disposed of by a common, consolidated order
from the aggregate figures/amounts of column No. 5 in
respect of plot booking/sale including P.D.C. received and
receivable.
Thus this column ... aggregate
amounts receivable in respect of plot booking even though the
sales/possession of the said plot booking were not made and
whereas
ground is common in all the appeals before us.
3.1 The assessee was engaged in the business of purchase and sale of plots of
land ... plots of land as stock-in-trade, and purchase consideration of stock in
trade was business expenditure; then how on sale of same plots
sewerage system, passages,
gardens, platforms, common assets such as generators, pumps, lifts, etc. of a
complex situated at plot No. GH-03, Sector Beta
continues to be agricultural even presently.
9. Although different small plots are sold, common sale deeds are made for
multiple plots to same
accounts for its trading in equity shares, and for its trading in plots
and buildings. There is a charge of interest ... assessee which appears to be common for both its share trading
business as well as for its plot business, show that its assets
After developing the land into smaller plots, the total saleable area
or in other words, the net plotted area remained ... left for open space, roads, common
amenities, etc. For computation of Capital gains on the sale of the
net plotted area, the cost of acquisition