For availing exemption u/s. 54F approval of building plan is not necessary

CA Sandeep Kanoi

It is not disputed that the assessee is not in possession of plot on which a residential building is in existence. The assessee has allegedly utilized the Long Term Capital Gain arising from the sale of shares towards the construction of a new residential house after demolition of old building on the plot-in-question.

The assessee has claimed exemption u/s.54F on the ground that the assessee has invested Long Term Capital Gains arising from sale of shares towa

Please become a Premium member. If you are already a Premium member, login here to access the full content.