Exemption u/s 54 Cannot Be Denied for Non-Compliance with 54(2)

Smt. Maninder Kartik Vs DCIT (ITAT Delhi) In the case of Smt. Maninder Kartik vs. DCIT, heard at the Income Tax Appellate Tribunal (ITAT) in Delhi, a crucial issue arose concerning the denial of exemption under Section 54 of the Income Tax Act. This denial was based on alleged non-compliance with certain requirements of the section. This article explores the details and legal aspects of this case. Detailed Analysis: The case pertains to Assessment Year 2013-14, where the individual assessee, Smt. Maninder Kartik, had claimed a deduction under Section 54 of the Income Tax Act in relation to Lon...