plots to these
housing socities in the year 1960. The Bombay Housing Board also earmarked
certain plots as amenities and utilities plots. These plots were ... Government, certain
plots were allotted in common for the purpose of creating common amenities.
The individual plots allotted to each of the societies have been
assessment of the capital gains on sale of the
common plot, which is not the subject matter of assessment
in the hands of the society ... Assessing officer erred in taking the cost
of acquisition of the common plot sold during the year as
Rs. Nil and in consequently calculating long
actual plot Sr. No., the amount received from the sale
of plot No.29 could not be ascertained whether it is an
independent plot forming ... proportion to
their respective size of the plot.
iii. It was submitted that the plots held for common amenities were
from time to time allotted
actual plot Sr. No., the amount received from the sale
of plot No.29 could not be ascertained whether it is an
independent plot forming ... proportion to
their respective size of the plot.
iii. It was submitted that the plots held for common amenities were
from time to time allotted
that assessee along with 13 other co-
operative societies owned a common plot conveyance deed (sale deed)
of which was executed in their favor ... Bombay Housing Board. The
assessee owned only 5.00% share of said common plot admeasuring
4780.6 square meters bearing plot no. 4A/7 bearing
common in both the appeals, relates to
taxability of amount received by the assessees towards their shares in
sale of common plot of land ... Government,
certain plots were allotted in common for the purpose of
creating common amenities. The individual plots allotted to
each of the societies have been
approval for commencement and completion as one project
on a common plot of land.
2. At the outset, during hearing, Shri Sanjay Sharma,
learned counsel ... does not lay
down that the plot having minimum area of one acre must
be a vacant plot.
25. The question, therefore, to be considered
orders dated 30.12.2009.
2. This is a set of two Appeals raising common issues. The appeals were
accordingly fixed for, and heard together. The brief ... asset, save the plot of land, which is in fact a
common plot (# 7A of Dyavasandra Phase I, Industrial Area), with each company
premises / property did not belong to
the Transferor, but was a common plot of land allotted to the society for its
common use. Further ... claimed to own, did not belong to
him, but was a common plot of allotted to the society and hence no
individual member
received by the assessee on sale of
common plot of land.
2. The learned CIT(A) erred in confirming the order of the
Assessing Officer ... during the year, the assessee has sold its share in the
common plot number 22 as jointly held by 14 co-operative housing
society
