Capital Gain Exemption shall not be Denied on Residential House Constructed on Small Area of Land: ITAT [Read Order]

By Aparna. M - On August 6, 2023 3:00 pm - 2 mins read
Capital Gain exemption - Denied on Residential house constructed - Residential house constructed - Small Area of Land - Land - ITAT - Income Tax - taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that capital gain exemption should not be denied on residential houses constructed on small areas of land. The assessee , Girish Mohan, filed its return by claiming capital gain exemption on Investment in new residential house. During the assessment proceedings, the Assessing Officer (AO) alleged that…

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