Case Law Details
Case Name : Shri Pankaj Chimanlal Patel (HUF) Vs DCIT (ITAT Ahmedabad)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Ahmedabad
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Shri Pankaj Chimanlal Patel (HUF) Vs DCIT (ITAT Ahmedabad)
The essential controversy in the instant case is whether deduction under 54F of the Act is available in respect of capital gains arising from sale of more than one long term capital assets, not being residential house (original asset) against the construction or purchase of one residential house (new asset). The incidental issue that arises is whether capital gains of multiple years can be claimed against purchase/construction of same new residential house i.e. new asset subject to fulfillment of other conditions. The Revenue seeks to ...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
OFFHAND
The concluding observations of the ITAT in para. 13 seem to make for a sound and valid reason for dismissing the stance of the Revenue placing heavy reliance on the SC Judgment in Dilip Kumar & Co’s case. Why to say so ?- Suggest to find the Answer, which should be more than obvious, from a mindful reading of the concluding Para. 53 of that Judgment. For a dilation, look up the related Post on FB and LInkedin.
courtesy.