Case Law Details
Case Name : Manohar Pyarelal Sadane Vs Income-tax Officer, Ward - 3(1), Dhule (ITAT Pune)
Related Assessment Year : 2007-08
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IN THE ITAT PUNE BENCH ‘A’
Manohar Pyarelal Sadane
versus
Income-tax Officer, Ward – 3(1), Dhule
IT APPEAL NO. 220 (PN) OF 2011
[ASSESSMENT YEAR 2007-08]
JULY 26, 2012
ORDER
Shailendra Kumar Yadav, Judicial Member
This appeal has been filed by the assessee against the order of the CIT(A) on following grounds:
1. The learned CIT(A) erred in holding that the land situated at Village Kharghar was a capital asset within the meaning of section 2(14) of the Income Tax Act.
2. The learned CIT(A) erred in holding that the said land was not an agricultural lan...
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Hi,
Good case
good case law
Very interesting case. If we extend this logic, theren should be no Capital gains on sale of Bonus shares and also sale of shares allotted on demerger. Am I right?
Hi,
going through the above ruling, does it mean if i inherit a property from father and sale it.. will it not be chargeable to capital gain tax… as cost of acquisition for me is nil…