Charging Capital Gains Tax twice on Same Land from Sale Deed Execution is Impermissible: ITAT quashes Reassessment u/s 148 [Read Order]

Charging capital gains tax on the same land based on the final execution of the sale deed amounts to taxing the same transaction twice, which was not permissible
ITAT - Capital Gains Tax - income tax Reassessment - Section 148 Income Tax Act - Income tax act - ITAT Delhi - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that charging capital gains tax twice on the same land from the execution of the sale deed was impermissible, and consequently quashed the reassessment under Section 148 of the Income Tax Act, 1961. The assessee, M/s Dabur India Limited, is engaged in…

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