Case Law Details
Case Name : Abani Pattanayak Vs ACIT (ITAT Cuttack)
Related Assessment Year : 2012-2013
Courts :
All ITAT ITAT Cuttack
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Abani Pattanayak Vs ACIT (ITAT Cuttack)
Introduction: The Income Tax Appellate Tribunal (ITAT) in Cuttack ruled in the case of Abani Pattanayak Vs ACIT that maintenance and electricity charges not in the form of deposits are excluded from the property cost for calculating Long Term Capital Gain (LTCG). The Tribunal also provided insight into the treatment of sinking fund and deposit charges, as well as the determination of the financial year for indexation.
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