Denial of exemption u/s 54F for mere technical default is unjustified

Vikas Narayan Baddi 2 Vs ACIT (ITAT Ahmedabad)

ITAT Ahmedabad held that denial of exemption u/s 54F of the Income Tax Act for a mere technical default, beyond the control of assessee, in not getting the new property registered within the stipulated time period of two years is unjustified.

Facts-

The solitary issue involved in the present appeal related to denial of claim of exemption of long term capital gain of Rs.1,08,69,338/- on account of investment of the same

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