S.54F Deduction Fully Allowable on Capital Gains Reinvestment with Proforma Purchaser: ITAT [Read Order]
It was held that joint ownership, in this case, was for convenience, and did not preclude the taxpayer from claiming the full deduction.
By Varda Marakkar - On September 17, 2024 1:24 pm - 2 mins read
In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Pune Bench held that full deduction claim under Section 54F of the Income Tax Act 1961 (ITA) is allowable on capital gains reinvestment with proforma purchaser. The primary issue in the case was whether the appellant/assessee was entitled to a full deduction, given that the…
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