Case Law Details
Padmanabhan Mohan Vs ITO (ITAT Chennai)
The intricate world of income tax assessments often involves meticulous scrutiny of claims made by taxpayers. In the recent case of Padmanabhan Mohan vs Income Tax Officer (ITO), the Income Tax Appellate Tribunal (ITAT) in Chennai has rendered a decision that delves into the nuances of property acquisition costs and the substantiation of expenses, particularly registration fees. This article provides an in-depth analysis of the case, shedding light on the key arguments, decisions by authorities, and the implications for taxpayers.
Background of the Case
Padmanabhan Mohan, identified as a Non-Resident Indian (NRI), filed his income tax return for the Assessment Year 2017-18, declaring an income of Rs. 2,04,070/-. His return came under the scrutiny of the tax authorities through the Computer-Assisted Scrutiny Selection (CASS) system. The primary bone of contention was related to the sale of an immovable property and the associated claims made by Mohan.
Property Acquisition Cost Dispute
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