Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]

By Taxscan Team - On November 25, 2022 11:43 am - 2 mins read
Utilization of Capital Gain - capital gain - Flat - ITAT - Deduction - income tax - taxscan

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), allowed deduction under Section 54 and 54F of the Income Tax Act, 1961 on the ground that Utilization of capital gain within one year from taking possession of new flat. The assessee, Pradeep Kumar Sonthalia has claimed exemption under section 54 and 54F of the…

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