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2013 (11) TMI 568 - AT - Income TaxTransfer u/s 2(47)(v)/(vi) of the Income tax act - Taxability in the hands of member or Society - Assessee is a member of the Punjabi Co-op Housing Building Society Ltd. The assessee is owner of a plot measuring 500 sqyd and was entitled to monetary consideration of Rs. 80 lakhs and one furnished flat measuring 2250 sqft which has been valued by the Assessing Officer @ Rs. 4500 sqft - Land was transferred to Tata Housing Development Company Ltd. the Assessing Officer applied to capital gain tax which has been confirmed by the ld. CIT(A) – Held that:- following the decision in the cae of Shri Charanjit Singh Atwal and others [2013 (8) TMI 364 - ITAT CHANDIGARH], wherein it was held that assessee is liable to be taxed - Decided against the assessee.
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