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S. 54F Exemption cannot be denied for delay in possession of property
Case Law Details
- Case Name
- Mr. Kishore H. Galaiya Vs Income-tax Officer (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- ITAT Mumbai
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IN THE ITAT MUMBAI BENCH ‘A’
Kishore H. Galaiya
V/s.
Income-tax Officer
IT Appeal No. 7326 (Mum.) of 2010
[Assessment Year 2006-07]
JUNE 13, 2012
ORDER
Rajendra Singh, Accountant Member
This appeal by the assessee is directed against the order dated 13.8.2010 of CIT(A) for the assessment year 2006-07.
2. The only dispute raised by the assessee in this appeal is regarding disallowance of claim of exemption u/s 54 of the Income Tax Act, 1961 (the Act) in respect of long term capital gain arising from sale of a residential flat.
3. The facts in brief are that the asse...
