8 results for “house property”+ Section 54F(4)clear
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In the result, the appeal filed by the Revenue Department stands dismissed, whereas the appeal of the assessee is partly allowed for statistical purposes on the aforesaid reasons stated above
Bench: Sh. Sanjay Arora & Sh. N.K.Choudhry
4: The AO has made the addition on account of Short Term Capital Gain by taking the deemed value of the consideration in terms of section 50C of the Income tax Act as a result of sale/transfer of 1 kanal and 17 marlas of land @ Rs.60 lacs per Kanal being the cost approved by the State level Committee in terms