140 results for “capital gains”+ Section 115Jclear
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In the result, the appeal filed by the assessee is allowed
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
capital gain is invested in purchasing a residential house or constructing the residential house within the time stipulated therein. Proviso to sub section (1) states that the exemption contemplated under sub section (1) would not be available where an assessee owns a residential house as on the date of the transfer and that the income from the residential house