Capital Gain Exemption u/s 54F not available for Purchase of ‘Office Premises’: ITAT [Read Order]

Capital Gain Exemption - 54F - Purchase of “Office Premises” - ITAT - Taxscan

The Pune bench of the ITAT has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 is not available if the sale consideration is used to purchase ‘office premises’. While computing the capital gain, the assessee claimed, exemption u/s 54F of the Act amounting to Rs.16,03,920/-; deduction towards the…

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