THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VIJAYAWADA vs. SRI JASTI SRIDHAR BABU, KESARAPALLI
In the result, appeal filed by the Revenue Department stands dismissed
ITA 604/VIZ/2019[2015-2016]Status: DisposedITAT Visakhapatnam07 Apr 2021AY 2015-2016
Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble
For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri D.K. Sonawal, CIT DR
Section 10(1)Section 2(14)Section 250(6)Section 3Section 54BSection 54F
property i.e. one residential flat of Rs. 30,00,000/-, which includes additional work i.e. power connection charges, power deposit, woodwork, interior works, electrical fittings, corpus fund and internal painting etc.
The AO ultimately considered the sale amount received by the Assessee to the tune of Rs. 3,70,22,969/- and while subtracting the indexed cost
