Held that the Assessee having constructed first floor on the existing ground floor which has separate kitchen, electric connection, water connection, etc., he is eligible for exemption under S. 54F. Tribunal also held that the amount received back due to cancellation of deal of property, the addition is deleted (AY. 2012-13)
Chandra Bhavani Sankar v. ITO (2024) 231 TTJ 1072 / 243 DTR 9 / 38 NYPTTJ 1068 (Chennai)(Trib)
S.54F : Capital gains-Investment in a residential house-Construction of first floor with separate kitchen, electric connection, water connection, etc-Entitle to exemption-Amount received back-Cancellation of deal of property-Addition is deleted. [S. 45, 68]
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