Case Law Details
Case Name : ITO Vs Smt. B.S. Shanthakumari (ITAT Bangalore)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Bangalore
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It is clear from the order of the CIT(A) that the assessee had commenced construction of the building within a period of three years from the date on which the property on the transfer of which capital gain arose. In fact even at the stage of purchasing the plot of land on which construction was put up by the Assessee, the entire capital gain had been invested. The intention of the assessee was to construct a residential house and in this regard, we find that the assessee had applied for a sanction of the building plan and got sanction of the building plan as early as on 02.06.2010. The constr...
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Sir if i purchase a plot worthable of an amount of 40 Lakhs in chennai suburbun, can i pay any tax. i purchased it for my own. and after i bifurcate it with my friend. i have PAN. How we escape from tax.
Thanks