ELIZABETH JOSE,ERNAKULAM vs. DCIT, CORPORATE CIRCLE 1(1), ERNAKULAM
In the result, the appeal filed by the assessee stands dismissed
ITA 522/COCH/2025[2016-17]Status: DisposedITAT Cochin11 Aug 2025AY 2016-17
Bench: Shri Inturi Rama Rao, Am Assessment Year: 2016-17 Elizbeth Jose .......... Appellant Choice House, P.V. Sreedharan Road Kumbalam, Ernakulam 682506 [Pan: Acfpj2569J] Vs. Dcit, Corporate Circle - 1(1), Kochi .......... Respondent Assessee By: ------- None ------- Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 06.08.2025 Date Of Pronouncement: 11.08.2025 O R D E R This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 12.06.2025 For Assessment Year (Ay) 2016-17. 2. Brief Facts Of The Case Are That The Appellant Is An Individual. The Return Of Income For Ay 2016-17 Was Filed On 03.08 Disclosing Total Income Of Rs. 14,71,400/- & Unabsorbed Short Term Capital Loss Of Rs. 35,89,251/-. Against The Said Return Of Income, The Assessment Was Completed By The National Faceless Assessment Centre (Hereinafter Called "The Ao") Vide Order Dated 18.12.2018 Passed U/S. 143(3) Of The Income Tax Act, 1961 (The Act) Accepting
For Appellant: ------- None -------For Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 147Section 148Section 2(47)
35,89,251/-. According to the AO, the cost of acquisition of the said flat is only Rs. 24,60,720/- plus cost of registration of Rs. 2,33,776/-
The balance short term capital gain of Rs. 48,05,504/- was brought to tax. The AO further held that since the property was purchased from her husband only through
