Section 54F exemption available on Multiple Flats obtained under JDA

Ganga Poorna Prasad Vs ACIT (ITAT Bangalore)

ITAT: Ownership of several flats under JDA is eligible for Capital Gain Exemption

Income Tax Appellate Tribunal, Bangalore (ITAT) held that the Capital Gains Exemption under Section 54 F of the Income Tax Act, 1961 (the IT Act) is available to multiple flats obtained by Sri Ganga Poorna Prasad (Appellant), under a Joint Development Agreement (JDA).

The Appellant filed an appeal again

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