PR COMMISSIONER OF INCOME TAX vs. KESHAV DUTT SHREEDHAR

Bench: Hon’Ble Ms. Justice Sabina & Hon’Ble Mr. Justice Satyen Vaidya Income Tax Appeal No. 11 Of 2020 Between:- Pr. Commissioner Of Income Tax, Shimla. ….Appellant (By Sh. Vinay Kuthiala, Senior Advocate With Ms. Vandana Kuthiala, Advocate)

66,75,690/- This included income from long term capital gain of Rs.38,61,259/- (on sale of flat at Delhi for a consideration of Rs.54,00,000/-). An 2 exemption under Section 54 of the Income Tax Act (for short ‘the Act’) was claimed. On 29.11.2010 assessment under Section 143(3) of the Act was completed and returned income