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Case Law Details

Case Name : Gangahanumaiah Vs ITO (ITAT Bangalore)
Related Assessment Year : 2015-16
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Gangahanumaiah Vs ITO (ITAT Bangalore)

Conclusion: The ITAT while dismissing the assessee’s appeal observed that the assessee has transferred his share of right and interest over the property in favour of his father through relinquishment deed dated 14.10.2014, which is after entering into sale agreement on 28.1.2014 and as per section 2(47)(i) of the  Income Tax Act, transfer in relation to a capital asset, includes, the sale, exchange or relinquishment of assets. Therefore, the Order of

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