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Case Law Details

Case Name : Smt. V.A. Tharabai Vs Deputy Commissioner of Income-tax, Circle I, Vellore (ITAT Chennai)
Related Assessment Year : 2007-08
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 IN THE ITAT CHENNAI BENCH ‘D’

Smt. V.A. Tharabai

V/s.

Deputy Commissioner of Income-tax, Circle I, Vellore

IT APPEAL NO.1894 (MDS.) OF 2011 S.P. NO.86 (MDS.) OF 2011

[ASSESSMENT YEAR 2007-08]

JANUARY 12, 2012

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0 Comments

  1. vswami says:

    The series of decided cases, both of tribunal and courts, reported in recent years, unmistakably establish and reinforce that the view taken is, by any logic and sane reasoning, requires to be accepted as the correct position in law. Giving a sense of the right direction to take for the future, on the point of dispute commonly arising but decided in assessee’s favour; to the effect, that regardless of the merits or otherwise on a strict reading of the enactment, the claim for tax exemption of capital gains, ought not to be denied, should the delay/deferment in completion of transaction of purchase, or construction , is not attributable to any fault on assessee’s part but is owing to reasons beyond his control.
    It is high time for the Revenue to fairly concede, and come out with a directive / unequivocal circular beneficial to the assessees, in order not to allow scope for any such dispute any longer.; including in cases wherever pending.

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