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Denial of exemption u/s 54F for mere technical default is unjustified
Case Law Details
- Case Name
- Vikas Narayan Baddi Vs ACIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Ahmedabad
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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 in a new residential house as per the provision of section 54F of the Act.
It was stated that the claim of the assessee was denied...
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