Sold house for ₹1.10 crore, tax computed on ₹1.96 crore? ITAT explains when Section 54 relief is still available
· livemint.com
The Pune ITAT has ruled that capital gains computed using the higher stamp duty value under Section 50C do not automatically deny Section 54 exemption. The tax benefit, however, is available only if the taxpayer satisfies all conditions for claiming the exemption.
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has clarified that taxpayers may still be eligible for capital gains tax exemption under Section 54 e...