JOSEPH KIRAN KUMAR REDDY BASANI,HYDERABAD vs. DCIT., CIRCLE-5(1), HYDERABAD
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 694/HYD/2024[2015-16]Status: DisposedITAT Hyderabad29 Oct 2024AY 2015-16
Bench: Shri Manjunatha G. Hon’Ble & Shri K. Narasimha Chary Hon’Bleassessment Year: 2015-16 Vs. The Deputy Commissioner Of Joseph Kiran Kumar Reddy Income Tax, Basani, Circle 5(1), C/O. Pary & Co., Chartered Hyderabad. Accountants, No.6, 2Nd Floor, 8-2-703/Vj/6, Vijay Villa, Road No.12, Banjara Hills, Hyderabad – 500034, Telangana. Pan : Agcpb8082B. (Appellant) (Respondent) Assessee By: Shri Vamsi Krishna Reddy, C.A. Revenue By: Shri Karthik Manickam, Sr.Ar. Date Of Hearing: 29.10.2024 Date Of Pronouncement: 29.10.2024
For Appellant: Shri Vamsi Krishna Reddy, C.AFor Respondent: Shri Karthik Manickam, Sr.AR
Section 54Section 54FSection 54F(1)Section 54F(3)
property on 03-09-2014. The learned counsel for the assessee, referring to the sale agreement dated 09-07-2014, submitted that the assessee has received consideration of Rs.79,74,000/- whereas invested Rs.1,01,00,000/- for purchase of a new residential house. If we go by the date of payment of advances to the seller, the assessee
