Exempion u/s 54
Court :
Supreme Court
Brief :
Citation :
Dr. A. S. Atwal Vs. C.I.T
Held by hon'ble court that tin shed could not be considered as a residential house as it did not have any boundary wall, kitchen etc.Also it didn't have any electricity or water connectioin. As such assessee was not entitled to exemption on sale of the plot u/s 54.
Rahul Tibrewal
Published in Income Tax
Views : 63
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