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2019 (2) TMI 808 - AT - Income TaxComputation of LTCG - addition of sum received by the 4 siblings of the assessee directly from the purchaser and which finds mention in the registered sale deed - Whether the persons shown as siblings have received the payments as laid out in the recitals of the sale deed? - Held that:- In the interest of substantial justice would be well served if the impugned order of assessment dated 30.03.2016 for Assessment Year 2013-14 is set aside and restored back to the file of the AO for the limited purpose of verifying whether the persons shown as siblings, i.e., consenting witnesses are actually the siblings of the assessee and whether they have received the payments as laid out in the recitals of the sale deed dated 18.11.2012. If the assessee’s claim is found to be factually correct, then the AO shall adopt the sale consideration arising/accruing to the share of the assessee at ₹ 8 lakhs and re-compute the assessee’s LTCG on sale of the aforesaid property at Baluvanahalli, Kolar Dist accordingly complete the assessment for Assessment Year 2013-14 in the case on hand. Assessee’s appeal allowed for statistical purposes.
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