THEACIT, CIR-1(1),EKM, ERNAKULAM vs. SRI.E.M.JOHNY, KOTHAMANGALAM
In the result, the appeal of the assessee is partly allowed and the appeals
ITA 453/COCH/2007[1999-2000]Status: DisposedITAT Cochin17 Jan 2019AY 1999-2000
Bench: S/Shri Chandra Poojari, Am & George George K., Jm
Section 2(24)(vi)Section 48
31,720
Indexed cost Rs.2,47,07,662
Capital gains on transfer Rs. 27,87,338
Less: Exemption u/s. 54F In respect of the new house property purchased
75,00,000 x 2787338/27495000) Rs. 7,60,321
Taxable Capital Gains Rs. 20,27,017
Gross Total Income (-) Rs. 2,65,315/-
Net Taxable income NIL
T.D.S. Rs.24,000
Tax refundable
