Delay of 10 years in carrying out verification by AO: ITAT grants Capital Gain Exemption on tansfer of Residential Property [Read Order]
The Income Tax Appellate Tribunal (ITAT) granted an exemption on capital gains related to the transfer of a residential property, despite a 10-year delay in the verification process by the Assessing Officer (AO)
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) granted an exemption on capital gains related to the transfer of a residential property, despite a 10-year delay in the verification process by the Assessing Officer (AO). The individual assessee, a non-resident Indian residing in Germany, had submitted her income tax return for the relevant…
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