banner_ad

Section 54 exemption to father

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details