EXEMPTION U/S 54G

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..... THE ASSESSEE AS INDIVIDUAL EARNED CAPITAL GAINS BY SALE OF HIS OLD INDUSTRIAL SHED AND REINVESTED THE PROCEEDS IN NON URBAN AREA IN NEW PLANT AND MACHINERY IN A PARTNERSHIP FIRM IN WHICH HE IS A PARTN .....

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..... ER.INFACT HE HAS RELOCATED HIS STRUCTURAL ENGINEERING BUSINESS TO THE PARTNERSHIP FIRM. HE CLAIMED EXEMPTION OF CAPITAL GAINS U/S 54G . THE A O HOWEVER DIS ALLOWED THE STATING THAT THE REINVESTMENT S .....

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..... HOULD HAVE BEEN UNDER THE SAME P A N . HOWEVER READING SEC 54 G WHICH USES THE WORD UTILIZED, I FEEL A RESTRICTED INTERPRETATION IS .NOT JUSTIFIED PL GIVE YOUR VALUED OPINION - EXEMPTION U/S 54G - .....

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..... Query Started By: - gangadharan m.v Dated:- 9-6-2016 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementi .....

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..... ndia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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