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Section 54B6 Section 404 Section 54F4 Deduction4 Section 143(3)3 Section 143(2)2 Section 40A(3)2 Section 2(14)2 Section 5482 Capital Gains

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-8(1), HYDERABAD vs. LAKSHMI NARAYANA TURAIRAO , HYDERABAD

In the result, the appeal of the revenue is dismissed

ITA 232/HYD/2020[2008-09]Status: DisposedITAT Hyderabad30 Jul 2024AY 2008-09

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri S. Rama Rao, AdvocateFor Respondent: : Shri Shakeer Ahmed, DR

Section 143(3)Section 2(14)Section 54B

section is valid and for the prior years, the taxability would arise in the year of execution of the agreement which was in A.Y. 2004-05 in the appellant's case. Thus the first transaction of sale, even if considered a capital asset, would only be liable for taxation in A.Y. 2004- 05 and not for the years under consideration

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-8(1), HYDERABAD vs. LAKSHMI NARAYANA TURAIRAO , HYDERABAD

KRISHNA KISHORE REDDY MANYAM ,HYDERABAD vs. INCOME TAX OFFICER, WARD-6(4) , HYDERABAD

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-8(1), HYDERABAD vs. LAKSHMI NARAYANA TURAIRAO , HYDERABAD

KRISHNA KISHORE REDDY MANYAM ,HYDERABAD vs. INCOME TAX OFFICER, WARD-6(4) , HYDERABAD

AHMED ALAM KHAN,HYDERABAD vs. DEPUTY COMMISIONER OF INCOME TAX CIRCLE 2(1), HYDERABAD

DEMI REALTORS,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD