Long term capital loss on land surrender rejected where the claim had already been disallowed in an earlier year.

A long term capital loss claim arising from surrender of land to the Delhi Development Authority was examined for assessment year 2004-05. The loss was stated to relate to assessment year 2001-02, in which the same claim had already been disallowed, so it was not treated as appropriate for reconsideration in 2004-05. The claim for long term capital loss in assessment year 2004-05 was therefore rejected.

---

---

Issues: Whether the assessee was entitled to claim long term capital loss on surrender of land to the Delhi Development Authority in assessment year 2004-05.

Analysis: The loss arose from the surrender of land and was stated to relate to assessment year 2001-02, where the claim had already been disallowed. The claim was therefore not considered appropriate for assessment year 2004-05.

Conclusion: The claim for long term capital loss in assessment year 2004-05 was rightly rejected.

---