Co-Ownership Not Bar to Section 54F Exemption: ITAT Delhi

DCIT Vs Ajay Goel (ITAT Delhi) Joint Ownership not equal to Full Ownership – Co-Ownership Not a Bar for Section 54F – Section 54F Allowed Despite Multiple Houses in Family Settlement Delhi Bench ITAT has dismissed Revenue’s appeal & upheld relief granted to Assessee for AY 2020–21, affirming his eligibility for exemption u/s 54F despite co-ownership in a property & also allowing indexed cost of acquisition of shares. Assessee, an individual, filed his return of income at ₹12.50 crore. During the relevant year, he sold 74,024 shares of Tirupati Medicare Ltd. for ₹17...