Alkaben B. Patel v. ITO

ACIT, CIRCLE-5(1), BHUBANESWAR vs. SRI PADMA CHARAN PATRA, BHUBANESWAR

In the result, appeal of the revenue is dismissed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2014-15

…s is to be calculated from the end of the month in which transfer capital asset took place and not from the date of transfer. For this, the assessee relied on the decision of ITAT Ahmedabad Bench (SB) in the case of ALKABEN B. PATEL vs. INCOME TAX OFFICER, 148 ITD 31 (2014). The CIT(A) allowed the appeal of the assessee by following the decision of ITAT Ahmedabad (SB) in the case of Alkaben B Patel (supra) by observing as under: “3.4 I have carefully examined the assessment order as well as the submissions of the appellant. I find that the assessing officer has not disputed the date of transfer nor has he As…