ORDER

Per Jason P Boaz, Accountant Member

This appeal by the assessee is directed against the order of the CIT(A)-4, Bangalore dated 23.12.2017 for Assessment Year 2015-16.

2. Briefly stated, the facts of the case are as under:

2.1 The assessee, an individual, earning income from house property and capital gains, filed her return of income on 30.08.2015 declaring income of Rs.7,37,800/-. The return was processed u/s 143(3) of the Income-tax Act, 1961 (in short ‘the Act’) and the case was subsequently selected for scrutiny for the Assessment Year 2015-16 to examine “sale consideration of property is less than the value as per stamp authority (as per return) and sale of property as reported in Form 26QB”. The assessment was concluded u/s 143(3) of the Act vide order dated 23.11.2017; wherein the assessee’s 1/4^th share in short term capital gain (STCG); arising on sale of property No.30 situated in Sy. No.56 at Kasavanahalli Village, Varthur Hobli, Bangalore East Taluk for a consideration of Rs.1,50,00,000/- by the assessee along with three others vide registered sale deed dated 13.10.2014; was computed at Rs.16,04,096/-, as against Rs.2,79,096/-; by the assessee, by invoking the provisio