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

81,328 4 ITA 444/Hyd/2019 Total short term capital gains 37,20,328 However, the indexation benefit shall be made available to the appellant as per the law. The Assessing Officer is directed to recompute the capital gains as directed above and enhance the assessable income accordingly. 5.4 Penalty proceedings are initiated separately u/s.271(1)( c) read with explanation