Taxpayer Filed Copy of Bills and Bank Transaction Evidences: ITAT allows 40 lakhs Addition while Calculating LTCG from Property Sale [Read Order]

The assessee has filed a copy of bill issued by KK Builders and the bank statement to prove that the payment has been made through banking channel.

By Aiswarya Krishnadas - On May 19, 2024 6:43 am - 2 mins read

ITAT - income tax acts in 2024 - ITAT ruling on LTCG addition - Long term capital gain - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed Rs. 40 lakhs addition while calculating Long-Term Capital Gains ( LTCG ) from the sale of property as the taxpayer filed copies of bills and bank transaction as evidences. The assessee Srikanth, file an appeal for disallowance of further investment of Rs.40,00,000/-…

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