{"id":55082,"date":"2025-06-24T16:09:40","date_gmt":"2025-06-24T10:39:40","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dcit-v-bagalur-krishnaiah-shetty-vijay-shanker-2025-210-itd-20-bang-trib\/"},"modified":"2025-06-24T16:09:40","modified_gmt":"2025-06-24T10:39:40","slug":"dcit-v-bagalur-krishnaiah-shetty-vijay-shanker-2025-210-itd-20-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcit-v-bagalur-krishnaiah-shetty-vijay-shanker-2025-210-itd-20-bang-trib\/","title":{"rendered":"DCIT v. Bagalur Krishnaiah Shetty Vijay Shanker. (2025) 210 ITD 20 (Bang) (Trib.)"},"content":{"rendered":"<p><strong>\u00a0<\/strong><\/p>\n<p>Assessee sold a residential property and invested capital gains in construction of new residential property. He also deposited certain amount in capital gain account scheme. The\u00a0 assessee claimed exemption under section 54. The \u00a0Assessing Officer disallowed exemption claimed by assessee on ground that construction of new property was not complete. CIT(A) allowed the exemption.\u00a0 On appeal the Tribunal held that \u00a0exemption under section 54 could be allowed based on amount utilised by assessee out of sale consideration towards construction of new house property even if construction was not complete. Order of CIT(A) is affirmed.\u00a0 (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 54 : Capital gains-Profit on sale of property used for residence-Amount utilised for construction of new house-Exemption is allowable even if construction  was not complete. [S. 45]   <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-55082","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ekq","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=55082"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55082\/revisions"}],"predecessor-version":[{"id":55083,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55082\/revisions\/55083"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}