MITA HALDAR,MURSHIDABAD vs. ITO, WARD 42(1), MURSHIDABAD, MURSHIDABAD

ITA 2295/KOL/2026Status: HeardITAT Kolkata22 September 2026AY 2018-201915 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that Section 50C was correctly invoked for computing capital gains. However, it directed the Assessing Officer to allow a pro-rata deduction under Section 54F based on the amount deposited and to recompute capital gains by adding an estimated cost of improvement.

What were the facts?

The assessee sold an immovable property for Rs. 14,40,000, but the stamp duty valuation was Rs. 30,85,500. The Assessing Officer invoked Section 50C and disallowed cost of improvement and denied exemption under Section 54F.

What were the issues?

Whether Section 50C can be applied for determining the 'net consideration' for Section 54F exemption, and the allowability of cost of improvement.

Which sections of the Income-tax Act were involved?

Section 50C,Section 54F,Section 48,Section 250(6),Section 143(3),Section 234B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH AT KOLKATA

Before: SHRI YOGESH KUMAR US & SHRI RAKESH MISHRA

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

This appeal filed by the assessee is against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi [Ld. 'CIT(A)'] passed ITA No(s). 2295/KOL/2026 Assessment Year(s) 2018-19 Mita Haldar. u/s 250 of the Income Tax Act, 1961 the 'Act' for AY 2018-19 dated 23.04.2026. 2. The assessee is in appe

The order continues below.

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