Amount received by Retiring Partner not chargeable to Capital Gain Tax

Alankar Saphire Developers Vs DCIT (ITAT Delhi)

Facts of Case:

The assessee, M/s. Alankar Saphire Developers is a company dealing in real estate, land trading, trading, and development. A search was conducted at the office premises of the company. Accordingly, notice under section 153A was issued.

The assessee filed a letter with a printout of return for the Assessment Year 2003-2004 and requested that return filed originally under Section 139 of the Income Tax Act, 1961, should be treated as r

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