Sri. Chandrashekar Veerabhadraiah, Bengaluru Income Tax Officer, Circle- 6(2)(4), Bengaluru

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Last updated: 12 December 2020
Quick Summary
This Income Tax Appellate Tribunal case involves an appeal by Shri Chandrashekar Veerabhadraiah against the Income Tax Officer. The core issues are the correct computation of long-term capital gains on a property sale, specifically whether the entire sale consideration should be treated as capital gain. The appellant argues that the indexed cost of acquisition, based on the property's fair market value on 01/04/1981, should be deducted. Additionally, the appeal challenges the rejection of an exemption claim under Section 54F of the Act, asserting that funds from the sale were used to construct a residential house, supported by evidence.

Court :
ITAT Bangalore

Brief :
This appeal is by the assessee directed against the Order of CIT(A) dated 11.07.2015. The assessee raised the following grounds:

Citation :
ITA No.2293/Bang/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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