NATESAN EKAMBARAM,CHENNAI vs. DCIT CENTRAL CIRCLE 1(2), CHENNAI
In the result, the ground of appeal raised by the assessee on this issue stands allowed
ITA 2873/CHNY/2024[2014-15]Status: DisposedITAT Chennai01 Sept 2025AY 2014-15
Bench: Shri Ss Viswanethra Ravi & Shri S.R. Raghunathaआयकरअपीलसं./Ita No.:2873/Chny/2024 धनिाारणिर्ा / Assessment Year: 2014-15 Natesan Ekambaram, Dcit, 1/115, Bajanai Kovil Vs. Central Circle -1(2), Street, Chennai. Perumbakkam, Medavakkam Post, Chennai – 601 302 [Pan:Ackpe-6757-C] (प्रत्यथी/Respondent) (अपीलाथी/Appellant) अपीलाथीकीओरसे/Appellant By : Mr.K.Vishwa Padmanabhan, Ca. प्रत्यथीकीओरसे/Respondent By : Mr.C.Sivakumar , Addl.Cit.
For Appellant: Mr.K.Vishwa Padmanabhan, CAFor Respondent: Mr.C.Sivakumar , Addl.CIT
Section 144Section 147Section 148Section 148ASection 2(14)Section 2(14)(iii)Section 54
Section 2(14) of the Act, and accordingly no liability to capital gains tax arose on such transfer. The AO, however, did not accept the assessee’s contention. According to the AO that the impugned land constituted a "capital asset" within the meaning of the Act and, therefore, was liable to capital gains taxation. On that basis, the AO computed
