LTCG exemption claimed by one co-owner is eligible to another

Rasilaben Yogeshbhai Patel Vs I.T.O (ITAT Ahmedabad)

ITAT Ahmedabad held that once similar Long Term Capital Gain offered and exemption claimed by the co-owner is already accepted by the revenue, another co-owner (assessee) entitled for similar relief.

Facts-

The assessee during the year sold “Municipal Tenant” situated at Sharda Sahakari Gruh Mandal Ltd. for Rs. 1.9 crore in which assessee’s share was 50% only. The assessee worked

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