Deduction U/s. 54 cannot be denied proportionately merely for Joint Ownership

Shri Chitrang M. Dave Vs DCIT (ITAT Ahmedabad)

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the benefit of capital gain exemption under Section 54 of the Income Tax Act, 1961 cannot be denied to a joint owner

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