{"id":61373,"date":"2026-06-27T11:58:58","date_gmt":"2026-06-27T06:28:58","guid":{"rendered":"https:\/\/itatonline.org\/digest\/basavaraju-shivakumar-holavanahalli-v-acit-2025-215-itd-316-bang-trib\/"},"modified":"2026-06-27T11:58:58","modified_gmt":"2026-06-27T06:28:58","slug":"basavaraju-shivakumar-holavanahalli-v-acit-2025-215-itd-316-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/basavaraju-shivakumar-holavanahalli-v-acit-2025-215-itd-316-bang-trib\/","title":{"rendered":"Basavaraju Shivakumar Holavanahalli. v. ACIT (2025) 215 ITD 316 (Bang) (Trib.)"},"content":{"rendered":"<p>Held that the assessee constructed a commercial building with the intention to let it out and disclosed it as a capital asset in returns; however, due to prolonged vacancy and financial strain, sold it after six years of holding, which was a forced sale, not a planned business venture. Profit from sale was assessable as capital gains, and an exemption under section 54EC was allowable. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45: Capital gains-Sale of property-Commercial building-Capital asset-Intention to let out-Constructed and sold over six years-Assessable as capital gains and not as business income-Exemption under section 54EC was allowable.[. S.2(14), 28(i), 54EC]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61373","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fXT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61373","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=61373"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61373\/revisions"}],"predecessor-version":[{"id":61374,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61373\/revisions\/61374"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}