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Sec-54

This query is : Resolved 
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(Querist)
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?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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).
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taxindiaconnect

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taxindiaconnect (Expert)
11 November 2010 Agreed with BC Sir
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