NADELLA MUNIKANNAIAH ,TIRUPATI vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), TIRUPATI

In the result, the appeal filed by the assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2014-15 N.Dathri L/R Of Late Vs. Acit, Circle-1(1) Nadella Muni Kannaiah Tirupati C/O. Katrapati & Andhra Pradesh Associates 1-1-298/2/B/3, 1St Floor Ashok Nagar,Street No.1 Hyderabad-500 020

57,088 Assessee's share 50% 53,28,785 Deduct: Cost of acquisition 20,89,785 (Total Cost = Rs.41 ,79,570 assessee's share 50% Rs.20,89,785) 32,39,000 Sate of two flats during the F.Y.2013-14 relevant to A.Y.2014-15 Sale consideration (11,20,000 + 10,70,000) as per registered documents 21,90,000 Cost of acquisition