SH. SANJEEV LAL ETC. ETC. vs. COMMISSIONER OF INCOME TAX CHANDIGARH&AN
C.A. No.-005899-005900 - 2014Supreme Court01 Jul 2014
Section 45Section 54
Section
54 of the Act, the Legislature does not want him to be burdened with
tax on the long term capital gain and therefore, relief has been given
to him in respect of paying income tax on the long term capital gain.
The intention of the Legislature or the purpose with which the said
provision has been incorporated
