Double Taxation of LTCG Not Allowed: ITAT Allows Credit for Gain Already Declared

Gaurav Dye House Vs ITO (ITAT Delhi) Double Taxation of LTCG Not Permissible: ITAT Directs Proper Indexation from Actual Payment Dates and Gives Credit for Gain Already Declared The Delhi Bench “E” of the ITAT, in Gaurav Dye House v. ITO (AY 2022-23), granted significant relief to the assessee by holding that long-term capital gains (LTCG) cannot be recomputed in a manner leading to double taxation, and that indexation must be allowed from the actual dates of payment of cost, not arbitrarily from the date of registration. The assessee, a partnership firm, had sold an immovable property and...