| COURT: | ITAT Mumbai |
| CORAM: | Amit Shukla (JM), B. R. Baskaran (AM) |
| SECTION(S): | 54 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | purchase, undivided share of co-owner |
| COUNSEL: | Subhash S. Shetty |
| DATE: | November 12, 2014 (Date of pronouncement) |
| DATE: | November 14, 2014 (Date of publication) |
| AY: | 2007-08 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 54: Purchasing the undivided share of a co-owner in a new flat constitutes a "purchase" & is eligible for exemption | |
(i) The assessee purchased a residential flat on 08.01.1981, which was sold on 07.02.2007 for a sale consideration of Rs.1,25,00,000/-. The long term capital gain on such sale amounted to Rs.1,14,63,650/-. Before the said sale, assessee had entered into an …
Recent Comments