SH. SANJEEV LAL ETC. ETC. vs. COMMISSIONER OF INCOME TAX CHANDIGARH&AN
C.A. No.-005899-005900 - 2014Supreme Court01 Jul 2014
Section 45Section 54
gain under Section 45 of the Act.
8.
Relevant portion of Section 54 of the Act reads as under:
“54. PROFIT ON SALE OF PROPERTY USED
FOR RESIDENCE.
(1) Subject to the provisions of sub-section (2),
where in the case of an assessee being an individual or
a Hindu undivided family, the capital
