AO can't treat assessee differently if capital gain offered by co-owner of same asset is duly accepted: ITAT

INCOME TAX : Where once similar capital gain as offered by assessee on transfer of same asset had been accepted by revenue in assessee's co-owners case, assessee could not be treated indifferently and would be entitled to similar relief. Hence, addition made by Assessing Officer in case of assessee by invoking provisions of section 50C for alleged Capital Gain on transfer of land was to be set aside.

from www.taxmann.com Latest Case Laws https://ift.tt/3uTqV3X