Praveen Tyagi vs. ITO, Ward 2 (1)
Case No: ITA No.2832/DEL/2019 & ITA No.8563/DEL/2019
Court: Income Tax Appellate Tribunal, Delhi Bench ‘F’
Date: 3/27/2025
Parties Involved
appellantPraveen Tyagi
respondentITO, Ward 2 (1)
Facts Summary
The assessee, Praveen Tyagi, sold agricultural land for Rs.19 crores and claimed long-term capital gains of Rs.nil. The Assessing Officer determined a different indexed cost of acquisition leading to a long-term capital gain of Rs.18,85,16,224/-. The assessee appealed this decision before the Commissioner of Income-tax (Appeals), who rejected the appeal. The assessee then filed a further appeal before the Income Tax Appellate Tribunal. The assessee claimed deductions under section 54F of the Inc…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the order under section 250 passed by Hon’ble CIT (A) is bad in law.
- 2. Whether the ld. CIT (A) has erred in determining the indexed cost of acquisition.
2 more legal issues analysed in this judgement.
Precedents Relied Upon
5 precedents cited in this judgement.