Section 54 deduction available even on amount invested in excess of share in property

ITO Vs Rachna Arora (ITAT Chandigarh)

Solitary issue in the present appeal pertained to claim of exemption u/s 54 of the Act of Long Term Capital Gains earned by the assessee being invested in another property. The shares of three co-owners namely the assessee, her son in law and her daughter in the purchased property were 34%, 33% & 33% respectively. As the assessee’s share in said property was 34%, the

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