Perpetual right of possession of Hotel suite with right to transfer is capital Asset

ITAT DELHI BENCH ‘G’ Assistant Commissioner of Income-tax versus Shabnam Sachdev IT Appeal Nos. 5253 & 5254 (Delhi) of 2010 [ASSESSMENT YEAR 2007-08] DECEMBER 14, 2012 ORDER S.V. Mehrotra, Accountant Member These appeals filed on 30-11-2010 by the revenue are against the order dated 31-08-2010 of the Ld. CIT(A), XXII for AY 2007-08. 2. The assessee had filed a return of income declaring total income of Rs. 59,08,331/- from house property, capital gain and other sources. The AO noticed that assessee had shown Long Term Capital Gain on sale of capital asset held ...