Acit Central-2 Indore, Indore vs Shri .Gaurav Tekriwal, Indore on 21 November, 2022
Furthermore, in the similar
circumstances with that of the appellant, the Hon'ble ITAT Mumbai Bench, in
the case of P.N. Amersey- HUF vs ITO (2012) 31 CCH 252 (MumTrib), decided
the case in favour of revenue, has held that the amount received by the
assessee on surrender of tenancy rights is liable to capital gains tax if
Page 13 of 38
Shri Gaurav Tekriwal
ITA No.62/Ind/2021
Assessment year 2015-16
assessee was having substantial rights as tenant (Sub-tenant) in the property.