Case Law Details
Case Name : ACIT Vs Shrikishan Dass (ITAT Delhi)
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All ITAT ITAT Delhi
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Assessee has sold/transferred a lease hold landed property at 36, SSGT road, Industrial area, Ghaziabad at a consideration of Rs.3,25,00,000/- to Sara exports Ltd. The said lease hold property was acquired by the assessee way back in 1971 as per the original elase deed dt. 26.8.71 for a consideration of Rs.12,20,500/- which included the cost of the land and building from UPSIDCO (UP State Industrial Development Corporation). The assessee has sold/transferred the lease hold property as per the agreement to sale dt. 27.8.2007 and the final lease deed dt. 29.10.2007. The elase hold property...
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In case of transfer of leasehold right is the capital gain applicable ?
If yes, is it to be computed by the difference of the lease- value only or the difference between previous value (lease/ market valueas fixed by stamp authority) and the present ( lease/ market) value ?
Thanks
ARUN