https://www.taxtmi.com/caselaws?id=750700 ITAT Delhi ruled in favor of a non-resident assessee in a capital gains case involving property sale. The tribunal directed AO to verify and allow brokerage expenses totaling Rs. 20,28,125 if substantiated. For fair market value determination of rear basement, ITAT held that DRP wrongly disregarded registered valuer's report in favor of circle rates, noting sufficient evidence showed property acquisition before 01.04.2001 through agreement and rental receipts. The tribunal also directed AO to include Rs. 17 lakhs stamp duty in acquisition cost calculation, reversing DRP directions and deciding grounds 4-7 in assessee's favor. en-us Mon, 26 Feb 2024 00:00:00 +0530 Thu, 28 Mar 2024 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750700 ITAT Delhi ruled in favor of a non-resident assessee in a capital gains case involving property sale. The tribunal directed AO to verify and allow brokerage expenses totaling Rs. 20,28,125 if substantiated. For fair market value determination of rear basement, ITAT held that DRP wrongly disregarded registered valuer's report in favor of circle rates, noting sufficient evidence showed property acquisition before 01.04.2001 through agreement and rental receipts. The tribunal also directed AO to include Rs. 17 lakhs stamp duty in acquisition cost calculation, reversing DRP directions and deciding grounds 4-7 in assessee's favor. Case-Laws Income Tax Mon, 26 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750700