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Cost of lease-hold land can’t be taken as NIL as same is not covered by sec. 55(2)(a)
Case Law Details
- Case Name
- M/s. Natraj Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007- 08
- Courts
- All ITAT, ITAT Ahmedabad
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IN THE ITAT AHMEDABAD BENCH ‘A’
Natraj
Versus
Deputy Commissioner of Income-tax
IT APPEAL NO. 3063 (AHD.) OF 2010
[Assessment year 2007-08]
JANUARY 4, 2013
ORDER
G.C. Gupta, Vice-President
This appeal by the assessee for the assessment year 2007-2008 is directed against the order of the CIT(A)-XVI, dated 06.09.2010.
2. The grounds of the appeal of the assessee are as under:
“1. That the C.I.T. (APPEALS) erred in not allowing the indexed Fair Market Value of Rs. 2,99,72,250 as on 1-4-1981 in respect of the Leasehold Land acquired by the appellant as per the registered Leas...
