Vaishali Keshav Kulkarni,Pune vs Ito Ward 13(2), Pune on 28 May, 2025
3. Learned Counsel for the assessee, per contra, submits that
merely because the concerned conveyancementions Rs.55.00 lakh,
that itself cannot be taken as the income escaping assessment
inasmuch as the cost ofacquisition to be deducted from it and if that
is done, it would fall below the ceiling limit of Rs.50.00 lakh.This
aspect of the matter, learned Counsel for the assessee submits, was
considered by a Division Bench of Madhya Pradesh High Court
sitting at Jabalpur in Nitin Nema v. Office of Principal Chief CIT
[2023] 155taxmann.com 276/458 ITR 690 (Madhya Pradesh) and
relief has been accorded to the Assessee of the kindafter referring to
the order impugned in this appeal. He also tells us that challenge to
the Jabalpur Bench'sorder has attained finality at the hands of the
Apex Court in SLP No(C). 38708 of 2024 on 17.09.2024
andtherefore, the order of the learned Single Judge has secured
imprimatur of the Apex Court. So contending, heseeks dismissal of
the appeal.