PRITHVIRAJ LEKKAD MALLIKARJUN,BENGALURU vs. INCOME TAX OFFICER, WARD - 1(2)(1), BENGALURU
In the result, the appeal by the assessee is allowed for statistical purposes
ITA 1050/BANG/2024[2020-21]Status: DisposedITAT Bangalore19 Jul 2024AY 2020-21
Bench: Shri Laxmi Prasad Sahu & Shri Prakash Chand Yadavassessment Year : 2020-21
For Appellant: Shri G.S. Prashanth, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 226(3)Section 50CSection 54Section 55(2)(b)Section 55A
disallowing the indexed cost of acquisition of Rs.11,52,67,650/- by holding that the appellant has not furnished any details or evidence for cost of acquisition under the facts and circumstances of the case.
b) The authorities below failed to appreciate that the cost of acquisition of the property acquired prior to 01.04.2001 has to be adopted
