Exemption under section 54 of income tax act
Querist : Anonymous
the words used in the section are purchased OR constructed....
in your case what has happened is you have invested in new flat...
I think it will not amount to PURCHASE
So please check if you can really avail 54 exemption...
Querist : Anonymous
Of course, as you rightly pointed out, you can NOT now change the past except defending the same.
The JUSTICE relies on 2 basic principles in mind.....
01. The thing which should have been rejected does not get accepted and
02. The thing which should have been accepted does not get rejected.
Considering the surrounding situations, at times Courts have given very BALANCED decisions...(Which appear to be LIBERAL)
Same holds good for your case also.... I wish you get a BALANCED judgement.
Querist : Anonymous
Noted Points.
Querist : Anonymous
.
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