The Income Tax Appellate Tribunal (ITAT), Surat Bench has upheld the denial of capital gain exemption under section 54 by holding that an unregistered document has no evidentiary value. The appellant, Varshaben Jigneshbhai Bhajiyawala during the assessment proceedings, claimed deduction under section 54, on behalf of the sale of Long Term Capital Gain (LTCG). The…
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