ITAT allows deduction on cost acquisition of land acquired from allottees of govt for rehabilitation dam project [Read Order]

ITAT - deduction - cost acquisition - land acquired - allottees - govt for rehabilitation dam project-TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Pune bench, allowed a deduction on the cost of acquisition of land acquired from allottees of the government for the rehabilitation dam project. The assessee, Vasant Haribhau’s assessment, was completed under Section 143(1) of the Income Tax Act, 1961. As per the assessment order, the Assessing Officer went on…

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