KUMAR MADHAVANPILLAI.S,THIRUVANANTHAPURAM vs. ITO, WARD-1(4), TRIVANDRUM

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Kumar Madhavanpillai S. Income Tax Officer -1(4) Chandra Press & Book Depot Aayakar Bhavan, Kowdiar P.O. Manjalikulam Road Thiruvananthapuram 695003 Vs. Thampanoor Thiruvananthapuram 695001 [Pan: Ajxps9299P] (Appellant) (Respondent)

short-term capital gain arising from the sale of depreciable assets. 6 Kumar Madhavanpillai S. 16. The next controversy arises whether the investment made by the assessee in the new property is partly commercially in nature and partly residential in nature. In this regard, we note that assessee admittedly has been using the property for the residential purposes. Apart