ITAT Allows Earlier Indexation Year Because Possession & Payment Occurred Before Registration

Shreshta Sheel Patil Vs ITO (ITAT Bangalore) ITAT Allows Earlier Indexation Year Because Possession & Payment Occurred Before Registration In Shreshta Sheel Patil Vs ITO, the Income Tax Appellate Tribunal (ITAT), Bangalore, adjudicated an appeal concerning computation of long-term capital gains, specifically the correct year of acquisition for indexation and the allowability of construction and improvement costs. The assessee had not originally filed a return under Section 139(1) and the case was selected under the Non-filers Monitoring System due to sale of immovable property. Reassessmen...