Dismissing the appeal of the revenue the Tribunal held that, sale of commercial property which was held for more than thirty six months on which depreciation was claimed consideration was invested in a residential flat is eligible deduction. (AY. 2012-13)
DCIT v. Hrishikesh D. Pai (2018) 173 ITD 272/( 2019) 197 TTJ 583 (Mum.)(Trib.)
S. 54F : Capital gains-Investment in a residential house– Commercial property–Held more than thirty six months- Depreciation was claimed – Purchase of residential flat – Eligible deduction. [S. 45, 50]