ITA nos. 2031 & 2032/Del/2023
Case No: ITA No. 2031/DEL/2023 and ITA No. 2032/DEL/2023
Court: Income Tax Appellate Tribunal, Delhi Bench 'D'
Date: 9/19/2024
Parties Involved
appellantMadhu Bhatia
appellantRagini Bhatia
respondentACIT, Circle-1(1)(2), Int. Taxation, New Delhi
Facts Summary
For the assessment year 2020-21, Madhu Bhatia and Ragini Bhatia, who are co-owners of a property located at K-73, Hauz Khas Enclave, New Delhi, sold their shares in the property. The assessees filed their returns of income declaring total income of Rs. 1,87,20,810/- and Rs. 1,86,65,010/- respectively. The Assessing Officer computed the capital gains at Rs. 3,49,25,984/- and Rs. 3,44,53,984/- respectively, which the assessees contested. The assessees appealed against the assessment orders passed by the Assistant Commissioner of Income-tax, Circle International Taxation (1)(1)(2), New Delhi.…
Decision in favour of
Partly Assessee
Legal Issues
- 1. Incorrect computation of indexed cost of land.
- 2. Non-allowance of proportionate cost of construction.
- 3. Non-allowance of expenditure on travel and lodging.
- 4. Incorrect allowance of brokerage.
Judgment Outcome
Decided in favour of Partly Assessee.
Precedents Relied Upon
1 precedent cited in this judgement.