TMI BlogDeduction u/s 54F - Clubbing of exempt long term capital gain income of minor children - to find out...Deduction u/s 54F - Clubbing of exempt long term capital gain income of minor children - to find out whether there is any profit or gain chargeable to tax u/s 45(1), the provisions of both the sections are to be read together. Section 54F cannot be read in isolation - CIT(A) was not justified in denying the exemption of capital gain to the minors, which was invested in capital gain accounts scheme (CGAS). ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
