VARAHALAMMA PYDI (LATE),VISAKHAPATNAM vs. INCOME-TAX OFFICER, WARD-4(2), VISAKHAPATNAM
In the result, appeal filed by the assessee is allowed
ITA 348/VIZ/2024[2012-13]Status: DisposedITAT Visakhapatnam03 Jan 2025AY 2012-13
Bench: Shri K Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. 348/Viz/2024 (िनधा"रण वष" / Assessment Year: 2013-14) Varahalamma Pydi Late, Vs. Income Tax Officer, Visakhapatnam. Ward-4(2), Pan: Bjhpp9886J Visakhapatnam. (अपीलाथ"/ Appellant) (""थ"/ Respondent) अपीलाथ" की ओर से/ Assessee By : Sri I. Kama Sastry, Ar ""ाथ" की ओर से / Revenue By : Dr. Satyasai Rath, Cit-Dr
For Appellant: Sri I. Kama Sastry, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 142(1)Section 144Section 148Section 271(1)(c)Section 48Section 50CSection 54F
38,33,331] was not offered by the assessee to tax by applying the provisions of section 50C of the Act. Accordingly, the Ld. AO computed the Long Term Capital Gains at Rs. 6,74,80,333/-.
Further, the Ld. AO also observed that the assessee also claimed
Rs. 39,39,656/- as deduction U/s. 54F of the Act. However