Capital Gain Exemption not allowable to House purchased in Wife’s Name: ITAT [Read Order]

Capital Gain Exemption - House purchased - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 shall not be allowable to a new house purchased in the name of wife. The assessee, Mr. Dilip B Mundada sold his residential property and purchased a new house in the…

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