Amendment to Sec 54F (1) applicable from 1.4.2015 onwards: ITAT grants Capital Gain Deduction for purchase of Multiple Residential Units [Read Order]

ITAT - Capital Gain Deduction - purchase - Multiple Residential Units - taxscan

The Income Tax Appellate Tribunal (ITAT), Pune Bench has held that amendment to section 54F (1) applicable from 1.4.2015 onwards and grants capital gain deduction for the purchase of multiple residential units. The appellant, Arunkumar Purshotamlal Khanna claimed reinvestment of his long-term capital under Section 54F in respect of the purchase of twin residential units…

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