|The Tax Publishers2021 TaxPub(DT) 0022 (Mad-HC) : (2021) 430 ITR 0419
IN THE MADRAS HIGH COURT
ANITA SUMANTH, J.
Dass Media (P) Ltd. v. ITO
W.P. Nos. 34963 of 2019 and 4063 of 2020 and WMP Nos. 4800, 4803 of 2020 & 35746, 35748 & 35751 of 2019
15 December, 2020
Petitioner by: Suhrit Parthasarathy in both WP's
Respondents by: Hema Muralikrishnan, SSC
The petitioner is a company and had entered into an agreement for joint development in the capacity of a land owner with one M/s. Bashyaam Construction Pvt. Ltd. (BCPL) as developer. The petitioner filed a return of income (ROI) for assessment year (AY) 2014-15 on 04-3-2015 admitting a total loss. The return was not taken up for scrutiny. In its return of income for assessment year 2016-17, the petitioner had returned long term capital gain (LTCG) in regard to the project of joint development.
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