62 results for “capital gains”+ Section 140clear
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In the result, the appeal filed by the assessee is allowed
Bench: Shri Inturi Rama Rao
140. 3. While doing so, the AO had denied exemption u/s.54F of the Income-tax Act, 1961 (“the Act” hereinafter) in respect of capital gain of Rs.18,89,662 on the ground that the assessee constructed multiple residential houses, whereas the assessee is entitled for only one residential house. The AO further observed that during the previous year relevant