RAGHUVENDRA KUMAR VARSHNEY,ALIGARH vs. I.T.O., WARD-1, ALIGARH
In the result appeal of the assessee stands allowed
ITA 106/AGR/2013[2006-07]Status: DisposedITAT Agra31 May 2019AY 2006-07
Bench: Shri C.M. Garg & Dr. Mitha Lal Meena
Section 147Section 148Section 234B
Section 2(42)A] by the assessee and therefore are not long term capital assets and consequently deduction u/s 54EC is not available to assessee. Total sale consideration from sale of 5 flats valuing at Rs. 36,00,000/- should be treated as business income and taxed accordingly. "Thus the receipt of Rs 36,00,000/- have escaped
