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1 result for “disallowance”+ Section 54Gclear

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Key Topics

Section 2635Section 143(3)3Section 54B2

KANUBHAI VANMALIBHAI PATEL HUF,SURAT vs. ITO, WARD-1(2)(1), SURAT, SURAT

In the result, the grounds of appeal raised by the assessee is allowed

ITA 60/SRT/2022[2016-17]Status: DisposedITAT Surat17 Apr 2023AY 2016-17

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) Kanubhai Vanmalibhai Patel I.T.O.,Ward 1(2)(1), Huf,6, Siddharth Society, Surat. Vs. Behind Afil Tower, Lambe Hanuman Road, Surat-395010. Pan: Aakhp 0725 K Appellant Respondednt

Section 143(2)Section 143(3)Section 254(1)Section 263Section 54B

54G of the Act and sale consideration of property in Income tax return is less than the consideration reported in Form 26QB, details of long term capital gain. The assessee further vide its reply dated 24/10/2018 furnished complete details. We find that the assessee again in response to show cause notice dated 06/11/2018, furnished the details of immovable property purchased