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1986 (1) TMI 138 - AT - Income Tax
Extract:
....... the purchase of four flats for the purpose of his own residence under section 54(1). Accordingly, we accept the contentions of the learned counsel for the appellant and direct the ITO to allow deduction of the balance of Rs. 1,28,250 in the computation of capital gains under section 54(1) to the appellant. 10. In the result, the appeal is allowed.