Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The ITAT held that the date of accrual of rights in the allotted flat was the date of the allotment letter or payment of the first installment of earnest money, being 24.09.1998. Consequently, the STCG determined by the AO was set aside. The tribunal directed the AO to consider the LTCL as claimed by the assessee and determine the tax liability accordingly. The appeal was allowed, recognizing the assessee's rights in the property from the date of allotment/payment, thereby altering the capital gains treatment.
The ITAT held that the date of accrual of rights in the allotted flat was the date of the allotment letter or payment of the first installment of earnest money, being 24.09.1998. Consequently, the STCG determined by the AO was set aside. The tribunal directed the AO to consider the LTCL as claimed by the assessee and determine the tax liability accordingly. The appeal was allowed, recognizing the assessee's rights in the property from the date of allotment/payment, thereby altering the capital gains treatment.
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