Capital Gain Deduction allowable to Separate Independent Residential Units on a Single piece of Land: ITAT [Read Order]

Capital Gain Deduction - Residential Units - Land - ITAT - taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 is allowable to separate independent liveable residential units on a single piece of land. The assessee, Shri Venkatesharaiyer Subramanian, during the relevant year, invested in three residential units. In…

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