Capital Gain Exemption u/s 54 Not Allowable in respect of Two Independent Residential Units: ITAT [Read Order]

Capital Gain Exemption - us 54 Not Allowable - Two Independent Residential Units - ITAT - Taxscan

TheChennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that capital gain exemption under section 54 of Income Tax Act 1961 should not be allowed in respect of two independent residential units. Section 54 of Income Tax Act, 1961 provides that is if any individual or HUF can claim capital gain exemption in…

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