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Chandigarh, Less than six months after the Punjab and Haryana High Court admitted a petition filed by Punjab MLAs who were asked to pay capital gain on more than Rs 2 crore earned by entering into a deal for Tata Camelot housing project, Deputy Chief Minister Sukhbir Singh Badal too has filed an appeal.
Sukhbir told the court that the assessing officer noticed that he too was a member of the Punjab Co-operative House Building Society with 95 members.
The society was formed way back in 2000-01 by pooling in Rs 5 lakh each. The members were each entitled to a 500 sq yard plot. As per the agreement with Tata, each MLA was to get Rs 82.5 lakh and a flat each in lieu of their plot. Sukhbir added that the assessing officer, for the assessment year 2007-08, noticed that he had received Rs 15 lakh in view of the transfer of 3.08 acres. The capital gain was, thus, commuted on the proportionate amount of consideration received; and an assessment order was passed.
