Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]

Delay of Developer - Possession of Flat - Flat - Claim - ITAT - Capital Gain Deduction - Capital Gain - Deduction - ITAT Allows Capital Gain Deduction - taxscan

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that mere delay on the part of the developer to hand over the possession of the flat would not vitiate the claim of the assessee and thus allowed the capital gain deduction under Section 54F of the Income Tax Act,1961.  The assessee Anil Kirthisimhan Wijeyanayake…

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