Sec-54
This query is : Resolved
10 November 2010
If a person sell the flat and have long term capital gain. he acquires the property in co-ownership within the prescribed time. whether exemption is available for flat acquired in co-ownership against long term capital gain from residential house sold?
11 November 2010
In the given case ,section 54 exemption can be claimed in view of the decision in
CIT Vs. Chandanben Maganlal(2002) 120 Taxman 38(Guj).
CIT Vs. Chandanben Maganlal(2002) 120 Taxman 38(Guj).
11 November 2010
Agreed with BC Sir
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