Calculation of LTCG and STCG under the Income Tax Act

Last updated: 28 August 2021
Quick Summary
This Income Tax Appellate Tribunal case concerns the calculation of long-term capital gains (LTCG) arising from the sale of a co-owned property. The assessee reported an income of Rs. 3,67,230, including an LTCG of Rs. 1,84,977 from a property sale on 28th November 2011. Although the Assessing Officer identified this gain, the assessee's subsequent appeal to the CIT(A) was dismissed. Ultimately, the Tribunal allowed the assessee's appeal for statistical purposes.

Court :
ITAT Ahmedabad

Brief :
This assessee’s appeal for A.Y. 2012-13, arises from order of the CIT(A)-10, Ahmedabad dated 03-03-2017, in proceedings under section 143(3) of the Income Tax Act, 1961; in short “the Act”.

Citation :
ITA No. 1316/Ahd/2017

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Poojitha Raam Vinay
Published in Income Tax
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Attached File : 1442821_4289_25.pdf
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