Capital Gain Exemption allowable for Purchase of Two Flats to be used as a Single Dwelling Unit: ITAT [Read Order]

Capital Gain Exemption - allowable - Purchase - Two Flats - Single Dwelling Unit - ITAT - taxscan

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under section 54 of the Income Tax Act, 1961 is available to purchase of two flats by the assessee to be used as a single dwelling unit. The assessee, an individual, purchased two flats with total consideration of…

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