Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]

Cost of New Property - Collaboration Agreement - New Property - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT) of Delhi bench has held that the cost of new property has to be assessed as per collaboration agreement for exemption under section 54 of the Income Tax Act, 1961. Sh. Ramesh Chandna, the assessee declared a total income of Rs. 32,68,720/- and the case of the assessee was…

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