Capital Gain Exemption u/s 54 Not Allowable in cases where Builder has not Started Construction: ITAT [Read Order]

Capital - Gain - Exemption - Builder - Construction - ITAT - TAXSCAN

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that capital gain exemption under Section 54 is not allowable in cases where the builder has not started construction of house. It was also contended that the Commissioner of Income Tax (Appeals) [CIT(A)] has wrongly concluded that it is a case where…

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