banner_ad

Capital gain exemption u/s 54

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 June 2013 If an assessee sold a house and renovate another house like construct an additional floor, whether the assessee can enjoy exemption u/s 54 or not?
Profile Image

CA Pooja Agarwal

Profile Image

CA Pooja Agarwal (Expert)
14 June 2013 in the case of Mrs Meera Jacob VS. ITO, it has been held by the court that exemption is avialable only in case of purchase or construction of new house not for renovation as it does not involve new property
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
15 June 2013 The above citation is available in (2009) 313 ITR 411 (Ker) and is related to section 54F of the Income tax Act,1961.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details