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Deduction u/s. 54F being beneficial provision to be applied as per peculiar situation
Case Law Details
- Case Name
- Rajni Kumar Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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Rajni Kumar Vs ITO (ITAT Delhi)
ITAT Delhi held that provision of section 54F of the Income Tax Act are beneficial provision and the same has to be applied as per the peculiar situation of each case. Here, exemption u/s. 54F granted in spite of delay in construction of residential property since it was beyond the control of the assessee.
Facts- Assessee has preferred the present appeal. The relevant issues under consideration are, the assessee sold an immovable property on 18.05.2016 for a consideration of Rs.1,25,00,000/- on which long term capital gain of Rs.92,57,020/- was ...
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