SH. SANJEEV LAL ETC. ETC. vs. COMMISSIONER OF INCOME TAX CHANDIGARH&AN
C.A. No.-005899-005900 - 2014Supreme Court01 Jul 2014
Section 45Section 54
house on
30th April, 2003 i.e. more than one year prior to the purchase of the
new asset and therefore, the appellants were made liable to pay
income tax on the capital 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
