Capital Gain Exemption u/s 54 Cannot be Denied Based on Inadvertent and Bonafide Typographical Error: ITAT [Read Order]

Capital Gain Exemption - Inadvertent - Inadvertent and Bonafide Typographical Error - Typographical Error - ITAT - taxscan

The Lucknow Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax could not be denied on inadvertent and bonafide typographical error. An assessment order was passed by AO whereby an addition was made by rejecting the assessee’s claim under Section 54/54F of Income…

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