2022 (3) TMI 1607 - HC - Income Tax

LTCG included in taxable income - HELD THAT - Paragraph no.6 of the order 2017 (1) TMI 1765 - ITAT PUNE reads as under - 6. The assessee has requested vide the above mentioned submissions that the amount of Rs. 9, 90, 20, 875/- may now be included in his taxable income for the A.Y. 2014-15. In view of these facts and as per the directions of the ITAT discussed above the amount being balance consideration on account of sale of land at Wagholi is being taxed in the hands of the assessee in the A.Y. 2014-15 as Long Term Capital Gains. In view of paragraph no.6 above appeals do not survive. Appeals disposed.

Summary

The Bombay High Court disposed of appeals as the amount from the sale of land was included in the taxable income for the assessment year 2014-15 as Long Term Capital Gains based on the order of the Income Tax Appellate Tribunal.