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Sale of Rights in Plots Is Capital Transaction, Not Unexplained Money: ITAT Chandigarh
Case Law Details
- Case Name
- Smt. Harmandeep Kaur Vs ITO (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
- Courts
- All ITAT, ITAT Chandigarh
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Smt. Harmandeep Kaur Vs ITO (ITAT Chandigarh)
Sale of Rights in Plots Is Capital Transaction, Not Unexplained Money: ITAT Chandigarh Deletes ₹27.50 Lakh Addition u/s 69A
The Chandigarh SMC Bench of the Income Tax Appellate Tribunal, Chandigarh Bench allowed the appeal of Smt. Harmandeep Kaur for AY 2023-24 and deleted the addition of ₹27,50,000 made under section 69A read with section 115BBE, holding that the transaction represented taxable capital gains and not unexplained money.
The assessee had purchased two plots in 2010 and 2014 through allotment letters issued by M/s...
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