Section 54 exemption to father

This query is : Resolved

Neha Anand Dhakorkar (Querist)
Follow

21 April 2024 If father sale property and invest all amount in new property which is in the name of his son. Do he get exemption u/s 54? Or gain is taxable

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 April 2024 there are contrary rulings on different benches of ITAT on this issue. While benches like Delhi and jaipur have ruled in favor of the assessee, some other benches have ruled against the assessee. So kindly take a considered stand based on which case law may apply to the assessee. Also, please note that AO might disallow the exemption regardless of ITAT ruling. So, be prepared for defending the matter in further litigation.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

sandhya.v

Amit Bagla

Vidish Bhatt

CA. MOHIT SHARMA

T Ramachandran

Subscribe Now

Section 54 exemption to father

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

CA Final

GST CONSULTANCY

Article Assistant

GST CONSULTANT