ITAT Allows LTCL as Revenue Took Contradictory View on Identical Facts

Advertisement Shalini Rajput Vs CIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, allowed the assessee’s appeal after holding that the Income Tax Department could not adopt contradictory positions on identical Long-Term Capital Loss (LTCL) claims arising from the sale of the same jointly owned property. The Tribunal found that the assessee’s LTCL computation was supported by documentary evidence and that an identical claim made by the co-owner had already been accepted in scrutiny proceedings. The appeal related to Assessment Year 2022-23. The assessee had filed ...