ITAT allows Capital Gain Exemption on Purchase of New Residential Property upto date of filing of belated Income Tax Return [Read Order]

ITAT - Capital - Gain - Exemption - New - Residential - Property - Income - Tax - Return - TAXSCAN

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), allowed capital gain exemption claim under Section 54 of the Income Tax Act on purchase of new residential property upto date of filing of belated Income Tax Return. The assessee,Dr Dharmista Mehta filed her return of income declaring total income of Rupees three lakhs. The…

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