Supreme Court: Vacancies From Resignations under CUSAT Act Must Follow Communal Rotation  ||  Supreme Court: Forest Land Cannot Be Leased or Used For Agriculture Without Centre’s Approval  ||  Supreme Court: Gravity of Offence and Accused’s Role Must Guide Suspension of Sentence under CrPC  ||  Supreme Court: Arbitral Awards Cannot be Set Aside For Mere Legal Errors or Misreading of Evidence  ||  SC Acknowledges Child Trafficking as a Grave Reality and Issues Guidelines to Assess Victim Evidence  ||  Allahabad HC: When Parties Extend an Agreement by Conduct, The Arbitration Clause Extends Too  ||  Supreme Court: Issues of Party Capacity and Maintainability Must Be Decided by Arbitral Tribunal  ||  Supreme Court: Omissions in Chief Examination Can Be Rectified During Cross-Examination  ||  Supreme Court: Items Given by Accused to Police Are Not Section 27 Recoveries under Evidence Act  ||  Gujarat High Court: Waqf Institutions Must Pay Court Fees When Filing Disputes in State Tribunal    

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