Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2002 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2002 (7) TMI 57 - MADRAS HIGH COURTCapital Gains, Firm, Exemption From Tax On Capital Gains - "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the capital gains from the sale by the assessee of the residential house would be exempt under section 54 of the Income-tax Act and setting aside the order passed by the Commissioner under section 263 of the Act ?" - The next question is whether within two years immediately preceding the date on which the transfer took place the property was used by the assessee or a parent of his mainly for the purposes of his own or the parent's own residence. - we answer the common question of law referred to us in the affirmative, in favour of the assessees and against the Revenue
|