Capital Gain Exemption u/s 54F cannot be Allowed for Sale and Purchase of Plots: ITAT [Read Order]

Capital Gain Exemption - Capital Gain - Sale and Purchase of Plots - Sale - Purchase - Plots - ITAT - Income Tax - Tax - Taxscan

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad Bench, has recently, in an appeal filed before it, held that capital gain exemption under section 54F cannot be allowed for sale and purchase of plots. The aforesaid observation was made by the Hyderabad ITAT, when an appeal was preferred before it by an assessee, as…

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