Calculation of capital gain as per sec. 45 of the Income Tax Act, 1961

Last updated: 05 September 2021
Quick Summary
This judgement concerns the calculation of capital gains tax under Section 45 of the Income Tax Act, 1961. The assessee declared income including long-term capital gains from a development agreement for open land. The Revenue's appeal against the CIT(A)'s order was dismissed, upholding the assessee's position on the capital gain calculation.

Court :
ITAT Hyderabad

Brief :
This appeal of Revenue is directed against the order of the CIT(A)-3, Hyderabad dated 04.09.2019 pertaining to A.Y. 2016-17.

Citation :
ITA No. 1779/Hyd./2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

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Poojitha Raam Vinay
Published in Income Tax
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