SHITAL PIYUSHKUMAR PATEL,ANAND vs. THE ITO, WARD-4, ANAND
In the result, the appeal of the assessee is allowed
ITA 407/AHD/2024[2009-10]Status: DisposedITAT Ahmedabad23 Oct 2024AY 2009-10
Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal
For Appellant: Shri Mehul K. Patel, A.RFor Respondent: Shri Rignesh Das, Sr. DR
Section 142(1)Section 143(3)Section 54E
disallowed the deduction by observing that the legislation explicitly requires that investments in specified long-term assets be made after the date of the property transfer, meaning that the deduction was inappropriately claimed, since the investment was sourced from personal funds rather than capital gains from the property sale.
4. In appeal, Ld. CIT(Appeals) dismissed the appeal
