ITAT Delhi: Availability of Capital Gain Exemption to More Than One House if HUF Property Sold - (18 Jun 2019)
DIRECT TAXATION
Income Tax Appellate Tribunal (ITAT) Delhi has noted that the capital gain exemption under Section 54 of the Income Tax Act, 1961 should be given to more than one house when the property of an Hindu Undivided Family (HUF) is sold. Therefore keeping in view the fact that primarily the Assessee is eligible for deduction and purchased the plots and constructed residential dwellings on those plots, the Tribunal holds that the Assessee is eligible for the deduction.
Tags : ITAT DELHI CAPITAL GAIN EXEMPTION
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