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ITAT: Purchase of Land before Sale of Capital Asset ineligible for Deduction - (10 May 2019)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax Act, 1961 cannot be availed in case of purchase of land before the sale of the residential unit.

Tags : INCOME TAX APPELLATE TRIBUNAL   SECTION 54   INCOME TAX ACT   1961  

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