8 results for “house property”+ Section 54Fclear
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In the result, the appeal filed by the Revenue Department stands dismissed, whereas the appeal of the assessee is partly allowed for statistical purposes on the aforesaid reasons stated above
Bench: Sh. Sanjay Arora & Sh. N.K.Choudhry
property was a capital asset in terms of section 2(14) of the Income tax Act and duly held by the assessee for last 17 years. Thus, the addition made by the AO on account of Short Term Capital Gain is deleted. Ground of appeal No. 5: The AO has denied the exemption u/s. 54F of the Income