Residential unit of 8ft x 8 ft dimensions cannot be treated as Building – Section 54

CA Sandeep Kanoi

Issue, Submission before A.O. and Decision by A.O.

As regards the addition of Long Term Capital Gains, the assessee during the relevant assessment year sold a residential property bearing D.No 8-2-293/82/L/78C, Road No 12, Jubliee Hills, Hyderabad admeasuring 450 square yards with a built up area of 64 square feet for a gross consideration of R

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