54f
This query is : Resolved
ketan h shah
(Querist)
10 November 2013
can I take benefit of sec 54F in a case when my client has given plot to builder in exchange of flat built in same plot? I know some mumbai itat judgement and also DDA circular.
Nikhil Kaushik
(Expert)
10 November 2013
I believe you can. In nutshell, you are reinvesting the consideration to construct a flat! I am unable to locate the ITAT judgment.
Please refer: CIT v. Smt. K. G. Rukminiamma [2011] 196 Taxman 87/[2010] 8 taxmann.com 121
Please refer: CIT v. Smt. K. G. Rukminiamma [2011] 196 Taxman 87/[2010] 8 taxmann.com 121
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