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Acquisition of Tenancy Right Not Eligible for Capital Gain Exemption: ITAT - (01 May 2019)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the acquisition of the tenancy rights would not amount to purchase or construction of a new property and therefore, the capital gain exemptions under sections 54 and 54F of the Income Tax Act, 1961 is not available.

Tags : ITAT   ACQUISITION OF TENANCY RIGHT   CAPITAL GAIN EXEMPTION  

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