Date of Possession shall be considered to allow Capital Gain Exemption: ITAT [Read Order]

By Taxscan Team - On March 10, 2022 9:24 pm - 2 mins read
Date of Possession - Capital Gain Exemption - capital gain - Exemption - ITAT - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the date of possession shall be taken into consideration while allowing the capital gain exemption under section 54 of the Income Tax Act, 1961. The assesses is a salaried employee and his return was picked up for scrutiny assessment. After the scrutiny…

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