https://www.taxtmi.com/caselaws?id=448176 ITAT Hyderabad allowed the assessee's appeal regarding LTCG computation. The DRP correctly identified sale consideration of Rs. 5,12,07,000/- for 29 flats with cost of acquisition at Rs. 3,80,05,661/-, but the AO erroneously computed LTCG without properly reducing indexed cost of acquisition from sale consideration. The Tribunal directed the AO to correctly compute LTCG by reducing indexed cost of acquisition from sale consideration. Regarding Section 54F deduction, the matter was restored to CIT(A) pending finalization of similar issue for assessment year 2012-13. en-us Tue, 31 Oct 2023 00:00:00 +0530 Fri, 12 Jan 2024 08:42:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448176 ITAT Hyderabad allowed the assessee's appeal regarding LTCG computation. The DRP correctly identified sale consideration of Rs. 5,12,07,000/- for 29 flats with cost of acquisition at Rs. 3,80,05,661/-, but the AO erroneously computed LTCG without properly reducing indexed cost of acquisition from sale consideration. The Tribunal directed the AO to correctly compute LTCG by reducing indexed cost of acquisition from sale consideration. Regarding Section 54F deduction, the matter was restored to CIT(A) pending finalization of similar issue for assessment year 2012-13. Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448176