Include Previous Owner’s Holding Period for Inherited Property; Section 54EC Relief Allowed: ITAT Ahmedabad

DCIT Vs Bharat Lakhaji Nandwana (ITAT Ahmedabad) The appeal before the Income Tax Appellate Tribunal (ITAT), Ahmedabad, was filed by the Department against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] dated 13.06.2025 for Assessment Year 2017–18. The central issue involved the nature of capital gains arising from the sale of a residential property and the eligibility of exemptions under Sections 54 and 54EC of the Income-tax Act, 1961. The assessee, an individual, had declared long-term capital gains from the sale of a residential property and claimed exemptions under Secti...