Sponsored
    Follow Us:

Case Law Details

Case Name : Shri Radhey Shyam Arora Vs. Income Tax Officer (ITAT Jaipur)
Related Assessment Year : 2008- 09
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

Shri Radhey Shyam Arora Vs. Income Tax Officer (ITAT Jaipur)

It is apparent that the assessee did not disclose the transaction of sale of house and the AO completed the assessment by making the addition on account of cash deposit in the bank account of the assessee. Before the ld. CIT(A) the assessee claimed the benefit of section 54 on account of investment made in purchase of new house. The ld. CIT(A) denied the claim of the assessee on the ground that the new house was purchase in the name of his wife. At t

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

5 Comments

  1. CA Suresh Jain says:

    what should be the base rate in 2001 for claiming Indexation on long term capital gain for sale of house property in 2018 which was purchased in 1995.

  2. CA. SUBHASH CHANDRA PODDER says:

    Since, the claim of the assessee u/s 54 of the IT Act is allowed, therefore, another ground raised by the assessee of enhancement of income by the Id. CIT(A) become infructuous.

    In the result, the appeal of the assessee is partly allowed.

    Order pronounced in the open court on 13/12/2017.

  3. CA. SUBHASH CHANDRA PODDER says:

    when the entire investment for the purchase of new house has gone through the assessee’s account then the benefit u/s 54 of the Income Tax Act cannot be denied on the ground the new house was purchased in the name of wife. Hence, the claim of the assessee u/s 54 of the Income Tax Act is allowed.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30