SMT. SEEMA SHAH,VARANASI vs. ITO, WARD-2(2), VARANASI

In the result, appeal of the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2014-15 Smt. Seema Shah, Income Tax Officer, B-37/1F 2Kh, Haijnatha, Ward –2(2) V. Birdopur, Varanasi, U.P. Varanasi- 221010,Uttar Pradesh Pan:Aqpps9465C (Appellant) (Respondent)

house was held for less than thirty six months, it is to be classified as short term capital asset and the gains arising therefrom shall be short term capital gains. The plain language of Section 54 clearly stipulate that deduction u/s 54 shall be allowed only on long term capital gains arising from sale of residential property

GIRISH KUMAR KESHARI,VARANASI vs. DCIT, CIRCLE - 01, VARANASI