This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Assessee can not claim Indexation benefit on Indira Vikas Patra (IVP) on receipt of payment of the same
Case Law Details
- Case Name
- Dr. R. P. Patel Vs CIT (Kerala High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Kerala High Court
RELEVANT PARAGRAPH
4. Question Nos. 2 to 6 pertain to one and the same issue, that is, whether IVP is a capital asset or not. It is seat from the orders of the Tribunal that investment in IVP is assessed in the case of the assessee as unexplained investment only to the extent of fresh investment made in the respective year and reinvestment after encashment of earlier deposits was in tact allowed. The assessee’s claim that IVP is a capital asset is only for the purpose of evading payment of interest accrued on yearly basis in accordance with the scheme of IVP. The specific contention rais...
