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2022 (7) TMI 734 - AT - Income TaxDeduction u/s 54F - proportionate deduction - As per AO 'net consideration' for the purposes of Section 54F has to be read with Section 50C and therefore held that the assessee's case fell under Section 54F(b) and allowed proportionate deduction - HELD THAT:- Net consideration is fully invested in new asset, the whole capital gain should not be charged under section 45 we, therefore, delete addition being the amount wrongly included by the appellant under the head capital gain, and considering the same as per section 54F of the Act, no amount is liable to be taxed. Accordingly, appeal of the assessee is allowed.
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