Section 54 exemption on Construction over leasehold land

Shri Shivakumar Kheny (HUF) Vs  (ITAT Bangalore)

The Assessee took land on lease for a period of 20 years under a lease deed dated 14.3.2013 and constructed a residential house on such land. The amount of capital gain to the extent it was so utilized was claimed as deduction u/s.54 of the Act. As per the lease dated 14.03.2013, the Assessee

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