Sudeep Anand vs. CIT (A), Delhi-42

Parties Involved

Facts Summary

The assessee, Sudeep Anand, filed his return of income for the Assessment Year 2020-21 declaring a gross total receipt of Rs.4,74,830/-. The case was selected for scrutiny, and notices under sections 143(2) and 142(1) of the Income-tax Act, 1961, were issued. During the assessment proceedings, the Assessing Officer (AO) observed that the assessee had sold immovable property amounting to Rs.5,93,05,100/- and claimed a cost of acquisition of Rs.12,14,62,795/- along with transfer expenses of Rs.78,75,466/-. The AO disallowed the claim of stamp duty of Rs.43,69,849/- as the assessee failed to provide documentary evidence to support the payment. The assessee appealed to the Commissioner of Income Tax (Appeals), who sustained the AO's order. Aggrieved, the assessee filed an appeal before the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the learned CIT(A) erred in disallowing the payment of Stamp Duty amounting to Rs. 43,69,849/- on the contention that the seller was under no obligation to pay the stamp duty.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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