This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Capital gain to be offered in the year of execution of sale deed: Exemption u/s. 54 allowed
Case Law Details
- Case Name
- C. Aryama Sundaram Vs CIT (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1999-2000
- Courts
- All High Courts, Madras High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
C. Aryama Sundaram Vs CIT (Madras High Court)
Madras High Court held that JDA executed in 1994, however, sale/ transfer of capital asset was taken place only in March 1999 when the sale deed was executed. Accordingly, capital gain was rightly offered for AYs 1999-2000 and hence exemption u/s. 54 rightly claimed.
Facts- The appellant had returned capital gains for both years arising out of the sale of a residential property. The appellant had been a confirming party in a Joint Development Agreement (JDA) dated 15.12.1994. The agreement provided for sale of 2.5% undivided share of the property...
Author Info
