YASH ASHITBHAI VASHI,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1, INTERNATIONAL TAXATION, AHMEDABAD
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 1476/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad26 Feb 2025AY 2018-19
Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1476/Ahd/2024 िनधा"रण वष" /Assessment Year : 2018-19 Yash Ashitbhai Vashi The Income Tax Officer बनाम/ E/1, Pranav Apartment Ward-1, V/S. Shreyas Tekra International Taxation Ambawadi Ahmedabad-380 014 Ahmedabad – 380 015 "थायी लेखा सं./Pan: Aiipv 9386 Q (अपीलाथ&/ Appellant) ('( यथ&/ Respondent) Assessee By : None (Written Submission) Revenue By : Shri Waghe Prasadrao, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 24 /02/2025 घोषणा की तारीख /Date Of Pronouncement: 26 /02/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:
For Appellant: None (Written Submission)For Respondent: Shri Waghe Prasadrao, Sr.DR
Section 147Section 270A(9)Section 54Section 54B
2. The assessee was a 1/3rd co-owner of an immovable property sold for ₹55,00,000 with his share of sale consideration amounting to ₹18,33,333. After applying indexation, the Long Term Capital Gain (LTCG) was computed at ₹14,62,660, for which the assessee claimed deduction under Section 54 of the Act on the grounds of reinvestment