Mahendra Pratap Singh Vs ITO (ITAT Mumbai)
Mahendra Pratap Singh filed an appeal before the ITAT Mumbai against the order of the CIT(A), NFAC, Delhi dated 13 December 2025 for AY 2020-21. The appeal challenged the ex-parte dismissal by the CIT(A) and the additions made by the Assessing Officer in respect of capital gains arising from the sale of four residential flats in Vasudev Sky High.
The assessee had claimed deductions aggregating to ₹37,16,244 towards brokerage, other charges and improvement costs relating to the purchase and sale of the four flats. The AO had disallowed the claims and assessed short-term and long-term capital gains at amounts higher than those computed by the assessee in a revised computation furnished during the assessment proceedings.
For Flat No. 1004/3, the assessee claimed ₹1,75,000 towards brokerage and computed a short-term capital loss of ₹1,25,200 against the AO’s assessment of short-term capital gain of ₹50,400. For Flat No. 1006/3, the assessee claimed deductions relating to indexed other charges, improvement costs, purchase brokerage and sale brokerage, and computed long-term capital gain of ₹2,11,761 against ₹17,16,830 assessed by the AO. For Flats No. 1108/1 and 203/3, the assessee claimed other charges, improvement costs and brokerage, resulting in claimed capital gains of ₹3,85,625 and ₹11,01,000 respectively, compared with the higher amounts assessed by the AO.
