Capital Gain cannot arise in respect of a Null and Void Transfer: ITAT deletes Addition [Read Order]

void transfer - land - Capital gain - short term capital - ITAT - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that a null and void transfer of land does not form capital gain and additional short term capital gain was not sustainable. The assessee filed his return of income declaring a total income of Rs.71,690/-.  A search and survey were found and seized which…

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