VIDARBHA VENEER INDUSTRIES LTD. Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) Heard.

(2.) Rule. Rule returnable forthwith. The petition is heard finally with the consent of the learned counsel for the parties.

(3.) The appeal questions the order dtd. 24/03/2017 (Pg.72), passed by the learned Tribunal in MA No.07/Nag/2016, whereby the claim of the appellant of non-applicability of Sec. 50C of the Income Tax Act, 1961 (for short 'IT Act') to a property held in leasehold right has been negated by dismissing the appeal.