Assessee, engaged in property development, had filed its return of income declaring a business loss. Pursuant to a search conducted in case of a Trust, revealing a Joint Development Agreement (JDA) between assessee and Prestige Estate, Assessing Officer had made substantial additions, including Rs. 325.32 crores as business income, Rs. 84.92 crores as short-term capital gains, Rs. 71.90 crores as long-term capital gains. CIT(A) deleted the addition. On appeal the Tribunal held that issue of capital gains arising from transfer of capital assets into stock-in-trade for JDA, as well as business income, had already attained finality through Tribunal’s order in first round of litigation holding that income from JDA would be taxable only from assessment year 2012-13 since sale deeds had commenced that year and taxing same in assessment year 2011-12 would result in double taxation.  Order of CIT (A) is affirmed. (AY. 2011-12)