NCLAT: Can’t Set Aside Liquidation Order u/s 33 IBC When 3rd Party has Taken Possession of Property  ||  NCLAT: Unless Amendment Application Filed, Authority Can’t Suo Motu Amend Date of Default  ||  Delhi HC Directs Removal of 'Kindpan' Trademark in Petition Filed by ‘Mankind’  ||  J&K HC: Limitation for Challenging Award Starts after Signed Copy is Received by Party  ||  Delhi HC: ‘High Speed’ Not Sufficient to Conclude Driver Acted in Rash and Negligent Manner  ||  Allahabad HC: Huge Difference between Executing a Particular Document and Being a Witness  ||  Kerala HC: Can’t Consider Co-Opted Members of Bar Council as Separate Class from Elected Members  ||  J&K HC: Govt. Failing to Communicate Rejection of Detenue’s Representation in Time Vitiates Order  ||  SC: Electricity Act Empowers State Commissions to Regulate Open Access Within their Respective States  ||  SC: Limitation Begins from Date of Registration of Sale Deed that Constitutes Constructive Notice    

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  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved