Land given for development is ‘transfer’ – ITAT rejects ‘Not transferred but only given for development’ plea

IN THE ITAT HYDERABAD BENCH ‘B’ Krishna Kumar D. Shah (HUF) v. Deputy Commissioner of Income-tax IT APPEAL NO. 1164 to 1167 (HYD.) OF 2010 [ASSESSMENT YEARs 2006-07 & 2007-08] JULY 12, 2012 ORDER Chandra Poojari, Accountant Member The above appeals by different assessees are directed against different orders of the CIT(A)-I, Hyderabad dated 26.7.2010 for assessment years 2006-07 and 2007-08. Since the issues arising out of these appeals are common in nature, they are clubbed together, heard together and are being disposed of by this common order for the sake of...