Claim of LTCG Not Allowable when Transactions of Transfer of Land does not Falls Within Ambit of Section 45 of Income Tax Act : ITAT [Read Order]

By Shabna Rahim - On July 1, 2023 12:35 pm - 2 mins read
Claim - LTCG - Allowable - Transactions - Transfer - Land - Ambit - Income - Tax – Act - TAXSCAN

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the claim of Long Term Capital Gain (LTCG) was not allowable when the transaction of transfer of land does not fall within the ambit of section 45 of the Income Tax Act,1961. Avantha Realty Ltd, the appellant assessee appealed against the order…

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