Exemption u/s 54F - Assessee given advance for purchase of land ...

Income Tax

April 10, 2020

Exemption u/s 54F - Assessee given advance for purchase of land in the year 2005 and accordingly acquired right for specific performance of agreement of sale - The said right constitutes “capital asset” within the meaning of sec.2(14) of the Act. Subsequently, the assessee has received money for giving up the said right. - Benefit u/s 54F allowed - AT

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Exemption u/s 54F - Assessee given advance for purchase of land ...

Income Tax

April 10, 2020

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