ITAT Deletes Duplicate Capital Gains Addition Due to Amended Sale Deed Error

Advertisement Suribabu Pallanti Vs ITO (ITAT Visakhapatnam) In this case before the Income Tax Appellate Tribunal, the assessee challenged additions made towards alleged undisclosed sale consideration arising from property transactions for AY 2016-17. The assessee had originally filed a return declaring income of Rs.3,94,000/-. The case was selected for limited scrutiny to verify large cash deposits and purchase/sale of immovable properties. During assessment proceedings, the Assessing Officer found that the assessee had sold thirteen properties for a total consideration of Rs.76,61,000/-. ...