The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the acquisition of the tenancy rights would not amount to purchase or construction of a new property and therefore, the capital gain exemptions under sections 54 and 54F of the Income Tax Act, 1961 is not available. The assessee sold certain agricultural […]
The post Acquisition of Tenancy Right not eligible for Capital Gain Exemption: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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