ITAT Mumbai Deletes Section 11(1A) Disallowance on Sale Consideration Investment

DCIT (Exemptions) Vs Dawat E Hadiyah (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai has ruled in favor of Dawat E Hadiyah in the case of DCIT (Exemptions) Vs Dawat E Hadiyah, dismissing the appeal filed by the revenue. The case revolves around the applicability of Section 11(1A) of the Income Tax Act concerning the exemption on capital gains from the sale of immovable properties and the carry forward of losses. The assessment year in question is 2017-18. Background Dawat E Hadiyah is a charitable trust registered under Section 12A of the Income Tax Act. The trust filed its retur...