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Income Tax - Highlights / Catch Notes

Home Highlights December 2019 Year 2019 This

Addition on account of long-term capital gain on sale of ...

Income Tax

December 29, 2019

Addition on account of long-term capital gain on sale of properties - VO had applied CPWD rate whereas he should have applied PWD rates and should have allowed depreciation @95% of cost taking the life of properties at 60 years. The AO is therefore, directed to consider value of property as per Rent Capitalization Method and compute capital gains accordingly.

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