Scrutiny case of long-term capital loss on sale of property

Last updated: 16 June 2021
Quick Summary
This case involves an individual claiming a long-term capital loss on the sale of a property. The Assessing Officer questioned the claim, noting that the sale deed indicated only the ground floor was sold, while the assessee had included the construction cost of multiple floors based on a valuation report. The assessee also claimed significant expenditure on the transfer, which the officer sought proof for. The tribunal reviewed the assessee's submissions regarding the property's history and the nature of the transfer expenses.

Court :
ITAT Delhi

Brief :
This appeal filed by the assessee is directed against the order dated 16th October, 2017 of the CIT(A)-21, New Delhi, relating to assessment year 2014-15.

Citation :
ITA No.403/Del/2018

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