Date of acquisition of property to be considered for computing capital gain: ITAT deletes addition [Read Order]

Date of acquisition of property to be considered for computing capital gain: ITAT deletes addition
ITAT deletes addition - Income Tax Appellate Tribunal -capital gain - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the date of acquisition of the property should be considered for computing capital gain. Thus, the bench deleted the addition made by the assessing officer. The assessee, D.K. Brothers, after filing the return of income, had the case selected for scrutiny. During the scrutiny proceedings,…

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