This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT treated same transaction in case of Co-Owners differently: HC remits back for reconsideration
Case Law Details
- Case Name
- Amjad Ahmedbhai Sheikh Vs ACIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All High Courts, Bombay High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Amjad Ahmedbhai Sheikh Vs ACIT (Bombay High Court)
We find that the assessee and Shri Narendra Kanhaiyalal Parikh were joint purchasers of agricultural land by virtue of sale-deeds dated 23.03.2004 and 29.04.2004. After converting the same for non-agricultural use, various plots came to be sold. Prima-facie we find that as the co-owner has been granted benefit of capital gains with regard to the same transaction which assessment order has been accepted by the Revenue, said aspect deserves to be taken into consideration while adjudicating the claim of the assessee for seeking benefit of capit...
