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Section 54F exemption on gain from House Constructed on own land
Case Law Details
- Case Name
- Rajesh Kumar Adukia Vs DCIT (ITAT Ranchi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Ranchi
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Rajesh Kumar Adukia Vs DCIT (ITAT Ranchi)
Income from Sell of Flats after Construction after 26 Years of Land purchase – Business Income or Capital Gain?
In the present case, undisputedly, the land was purchased on 10.11.1981 and after passage of 26 years, the owners of land applied for permission/sanction of constructing the building on 17.2.2007 and got sanction on 4.5.2007. Subsequently, the construction was started on 19.6.2009, which was partly completed during the financial year 2012-13 and fully completed during financial year 2013-14 pertaining to assessment ye...
