Held that when the entire actual consideration was invested in purchase of under consideration of residential house the capital gain is exempt . Provision of section 50C is not applicable. (AY. 2013 -14) ( ITA No. 379(JP) of 2018 dt. 30 -5 -2023 )
Lalit Kumar Kalwar v .ITO ( 2023) 106 ITR 373 ( Jaipur )( Trib)
S.54F : Capital gains- Investment in a residential house – Entire actual consideration was invested in purchase of under consideration of residential house – Capital gain is exempt – Provision of section 50C is not applicable .[ S. 45, 48 , 50C , 54F(4)]
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