ITAT: Ownership of several flats under JDA is eligible for Capital Gain Exemption
Last updated: 19 October 2021
Court :
ITAT Bengaluru
Brief :
In Sri Ganga Poorna Prasad v. The Assistant Commissioner of Income Tax, Mysuru [ITA No.41/Bang/2020 A.Y. 2009-2010 dated October 07, 2021], the Income Tax Appellate Tribunal, Bangalore ("ITAT") held that the Capital Gains Exemption under Section 54 F of the Income Tax Act, 1961 ("the IT Act") is available to multiple flats obtained by Sri Ganga Poorna Prasad ("the Appellant"), under a Joint Development Agreement ("JDA").
Citation :
ITA No.41/Bang/2020 A.Y. 2009-2010 dated October 07, 2021
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Bimal Jain
Published in Income Tax
Views : 361
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