LTCG - withdrawal of exemption u/s 54B - sale of new land within ...

Tax Exemption Withdrawn: Section 54B Breach Due to Early Sale of Urban Agricultural Land.

December 13, 2019

Case Laws Income Tax HC

LTCG - withdrawal of exemption u/s 54B - sale of new land within lock in period - In the case on hand, we are concerned with the capital gains with respect to the first transaction, i.e. the sale of urban agricultural land. We are not concerned with the second transaction of the sale of the rural agricultural land. - the assessee would be required to pay tax on the exemption claimed earlier.

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LTCG - withdrawal of exemption u/s 54B - sale of new land within ...

Tax Exemption Withdrawn: Section 54B Breach Due to Early Sale of Urban Agricultural Land.

December 13, 2019

Case Laws Income Tax HC

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