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ITAT Allows Earlier Indexation Year Because Possession & Payment Occurred Before Registration
Case Law Details
- Case Name
- Shreshta Sheel Patil Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Bangalore
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Shreshta Sheel Patil Vs ITO (ITAT Bangalore)
ITAT Allows Earlier Indexation Year Because Possession & Payment Occurred Before Registration
In Shreshta Sheel Patil Vs ITO, the Income Tax Appellate Tribunal (ITAT), Bangalore, adjudicated an appeal concerning computation of long-term capital gains, specifically the correct year of acquisition for indexation and the allowability of construction and improvement costs.
The assessee had not originally filed a return under Section 139(1) and the case was selected under the Non-filers Monitoring System due to sale of immovable prop...
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