SUCHITRA TANDON,PRAYAGRAJ vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE - 2 ALLAHABAD, ALLAHABAD

In the result, the appeal of the assessee stands dismissed

Bench: Shri Subhash Malguria & Shri Sanjay Awasthi

Capital Gain. The assessee had sold an open land during the assessment year under consideration and claimed exemption u/s 54 of the Act. The contention of the Assessing Officer is that section 54 of the Act speaks of residential house, the income of which is chargeable under the head, "income from house property'. The said residential house could be consisting