Case Law Details
Case Name : Rekah Devi Vs DCIT (ITAT Delhi)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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Rekah Devi Vs DCIT (ITAT Delhi)
In a significant verdict, the Income Tax Appellate Tribunal (ITAT) Delhi has provided substantial relief to Rekah Devi, an individual taxpayer, by overturning a major addition of INR 2,52,99,100/- made by the Assessing Officer (AO) on account of alleged long-term capital gain. The Tribunal also partly allowed her appeal concerning an addition of INR 1,68,000/- for deemed rental income. The decision, pronounced on September 9, 2021, underscores the principle that capital gains can only arise when actual consideration is received from the transfer of a capital a...
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