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2023 (8) TMI 435 - ITAT AHMEDABADDeduction/ exemption u/s 54 of the capital gain earned denied - year of assessment - HELD THAT:- Since the capital gain has been held to be not taxable in the impugned year, the eligibility to claim of exemption of the same, we hold, is to be examined in the year to which the capital gain pertains. Therefore, in the eventuality that the departments subjects the capital gains to tax in the preceding assessment year i.e. Asst. Year 2012-13, the assessee’s claim of exemption under section 54 is to be examined afresh in the said year.
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