RAJASHEKARAN VELOOR HOUSE SIVARAMANAN,BANGALORE vs. ITO, WARD-6(2)(1), BENGALURU

ITA 2344/BANG/2026Status: DisposedITAT Bangalore10 September 2026AY 2018-193 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the issues raised by the assessee regarding cost of construction, improvement, nature of capital gain, and Section 54 deduction required proper verification. The matter was set aside to the Assessing Officer for fresh adjudication.

What were the facts?

The assessee contended that the Assessing Officer erred in computing capital gains by not allowing the cost of construction and improvement, and by treating long-term capital gain as short-term. The assessee also claimed a deduction under Section 54, which was not granted.

What were the issues?

Whether the cost of construction and improvement were correctly considered in computing capital gains, and if the assessee is eligible for deduction under Section 54.

Which sections of the Income-tax Act were involved?

Section 54

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI WASEEM AHMED & SHRI SANDEEP SINGH KARHAIL

For Respondent: Shri Keshav Choudhary, Addl. CIT

PER WASEEM AHMED, ACCOUNTANT MEMBER:

This appeal is filed by the Assessee against the order of Ld. CIT(A) NFAC vide DIN: ITBA/NFAC/S/250/2025-26/1087181704(1) dated 11-Mar-2026 for the Assessment Year 2018-19. 2. The learned AR submitted before us that the capital gain computed by the Assessing Officer suffers from vari

The order continues below.

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