High Court Evaluates Entitlement to Income Tax Benefits u/s 54: Assessing Capital Gains and Two-Year Limitation Period.

Entitlement to benefit u/s 54 - ascertaining limitation period of 2 years - consideration paid by assessee under Memorandum of Understanding dated 08.09.2003 would fully cover the consideration of capital gains portion for being eligible to claim exemption u/s 54 - HC .....

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