Jagadish Gangappa vs. The Income Tax Officer

Parties Involved

Facts Summary

This is an appeal filed by the assessee against the order passed by the NFAC, Delhi dated 28/02/2024 in DIN No. ITBA/NFAC/S/250/2023-24/1061667568(1) for the assessment year 2017-18. The assessee claimed a deduction under section 54 of the Act for the transfer of land. However, the assessee failed to justify the claim with documentary evidence. The AO disallowed the deduction and added the amount to the total income of the assessee. The assessee appealed to the CIT(A), who also denied the claim. The assessee then appealed to the ITAT.…

Legal Issues

• 1. Whether the CIT(A) erred in confirming the order of the AO by sustaining the addition of Rs. 1,54,14,200/- by denying the deduction claimed under section 54 of the Act.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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