This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
S. 54 Exemption available on capital gain from sale of multiple house invested in a new house
Case Law Details
- Case Name
- Deputy Commissioner of Income-tax Vs Ranjit Vithaldas (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1998-99
- Courts
- ITAT Mumbai
Advertisement
IN THE ITAT MUMBAI BENCH ‘A’
Deputy Commissioner of Income-tax
V/s.
Ranjit Vithaldas
IT APPEAL NO. 7443 (MUM.) OF 2002
[ASSESSMENT YEAR 1998-99]
JUNE 22, 2012
ORDER
Rajendra Singh, Accountant Member
This appeal by the Revenue is directed against the order dated 7.10.2002 of CIT(A) for the assessment year 1998-99.
2. The dispute raised by the Revenue in this appeal relates to claim of deduction u/s 54 of the Income Tax Act, 1961 (the Act) in respect of investment of capital gain in the new residential property.
3. The facts in brief as borne out from the records ar...
Can exemption be claimed on sale of residential house properties by two people and reinvesting into a single residential house property?
In summary, can I sale two different residential flat in same year and invest in one flat without paying captial gain tax. Yes or No.