This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Revenue cannot take a different stand in case of Co-Owners
Case Law Details
- Case Name
- Smt. Bachupally Laxmi (alias Routhu Laxmi) Vs ITO (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Hyderabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Smt. Bachupally Laxmi (alias Routhu Laxmi) Vs ITO (ITAT Hyderabad)
For the purpose of computation of LTCG arising out of the development agreement cum GPA, the Assessing Officer has accepted that the assessee has acquired the flats as on 9.11.2009 and therefore, in the year 2012 when the assessee has sold the flat, the holding period has to be held as more than 3 years and the provisions of sub-section 3 of section 54F are not applicable. Similarly, the gain arising out of the sale of flat also has to be held as LTCG and not STCG as held by the Assessing Officer. She further s...
