On October 31, 2025, the Income Tax Appellate Tribunal (ITAT) Bangalore provided relief to Mr. Israni, a senior citizen, by removing the disallowance of the acuisition cost for a house property in Bengaluru that he jointly sold with his wife for Rs 8 crore. Out of this Rs 8 crore, he is entitled to Rs 4 crore, as his wife had a 50% share in this property .

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This case began when Mr. Israni filed his income tax return (ITR) for AY 2022-23 on June 16, 2022 reporting a total income of Rs 35 lakh (35,67,355). This ITR was processed under Section 143(1) on August 16, 2022 where his income calculations were accepted as submitted .However, his case was chosen for scrutiny under CASS, lea

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