Same Land, Same Facts – Consistency Wins- Revenue cannot Change Stand – ITAT Mumbai

Sunil Khadawala Legal Heir of Manhar Khadawala Vs National Faceless Appeal Centre (ITAT Mumbai) No Flip-Flop by Revenue -Same Land, Same Facts – Consistency Wins- Tribunal Bars Revenue from Changing Stand Background Filed ROI on 29.09.2011 declaring ₹7.83 lakh. Dispute: Taxability of ₹75,95,230/- received as compensation on surrender of 14 acres of land in Raigad. Disallowance of interest expenditure ₹1,63,373/- u/s 57(iii). Disallowance of salary expenses ₹5,11,000/-. AO’s Findings Land was not agricultural (Collector’s permission for farmhouses, Tehsildarâ...