TaxTMI 
TaxTMI 
2014 (1) TMI 806
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....fied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal, Ahmedabad dated 31.05.2013 passed in ITA No.2369/AHD/2012 for AY 2009-10, the revenue has preferred the present Tax Appeal with the following proposed substantial question of law. "Whether the Appellate Tribunal has substantially erred in not upholding the indexation cost worked out by the Assessing Off....
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....290/and the construction of the Bungalow was completed in 198485. That the cost of construction of said Bungalow was reflected both in the books of assessee and her husband late Shri Rohit J Gandhi. That the cost of the bungalow as per the assessee own books was Rs. 6,28,098/whereas the cost in her husband's book was Rs. 6,95,377/. Thus, the aforesaid bungalow was in coownership of the assessee an....
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....ed her reply. The Assessing Officer was not satisfied with the reply and therefore, by passing assessment order held that the benefit of indexation is available to the assessee only on the basis of CII for the year in which the asset was first held by the assessee and not by the provision owner of the said asset. Accordingly, AO reworked LTCG in respect of ownership of part of bungalow acquired by....
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....gh Court in the case of Arun Sungloo Trust vs. CIT in ITA No.116 of 2011, the learned ITAT has dismissed the said appeal. 2.3. Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned ITAT, the revenue has preferred the present Tax Appeal with the aforesaid proposed substantial question of law. 3.0. We have heard Ms. Mauna Bhatt, learned advocate for the appe....