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No Section 54 Exemption for Plywood Structures: Delhi HC
Case Law Details
- Case Name
- Sandeep Hooda Vs PCIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All High Courts, Delhi High Court
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Sandeep Hooda Vs PCIT (Delhi High Court)
Delhi High Court held that putting together a structure of plywood sheets cannot be construed as constructing a residential house for claiming exemption under section 54 of the Income Tax Act. Accordingly, appeal dismissed.
Facts- The appellant had sold a residential property on 25.09.2014, for a consideration of ₹6,88,00,000/- and had earned a capital gain of ₹5,63,74,550/-. However, the assessee claimed exemption in respect of the said gains on the ground that he had constructed ‘a residential house’ within a period of three y...
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