Capital Gain Exemption u/s 54 Allowable Even If Sale was Completed After Purchase of New Property: ITAT [Read Order]

Capital Gain Exemption - Capital Gain - Sale - Purchase of New Property - ITAT - Income Tax - taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax Act 1961 would be allowed even if the sale was completed after purchase of new property.  The assessee, Anik Chatterjee filed the return of income on 13.07.2016 and during the course of assessment proceedings…

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