2021 (7) TMI 366

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....Year 2015-16 filed against the order of the Commissioner of Income Tax (Appeals)-1, Hyderabad Dt. 18.10.2019. 2. The facts of the case are that the assessee, an individual, sold commercial property vide document No. 237/2015 dt. 9.2.2015 along with his brother Mangalapally Srinivas Rao for a consideration of Rs. 1,62,27,000/-. Since the assessee had not filed his Return of Income offering the cap....

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....rought the LTCG of Rs. 21,44,736. The assessee preferred an appeal against the assessment order before the CIT(A). On appeal, the CIT(A) confirmed the A.O's action and dismissed the assessee's appeal. Aggrieved, the assessee is in appeal before us raising the following grounds: 1. The order of the learned Commissioner of Income-Tax (Appeals) is erroneous both on facts and in law. 2. Th....

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.... 7. The learned Commissioner of Income-Tax (Appeals) erred in confirming the indexed cost of acquisition of the property at Rs. 51,84,810/-. The learned Commissioner of Income-Tax (Appeals) ought to have considered that the registration charges for acquisition of the property were not considered at the time of determining the capital gain. 8. The learned Commissioner of Income-Tax (Appeals) erre....