2018 (7) TMI 1694 - SCH - Income Tax

Addition on account of long term capital gain - disallowing the claim u/s 54F as the assessee was having more than one residential house as on date of transfer of the original asset - merely an agreement or booking of flat is not the property ownership, it is only a claim over the property - Held that - Special Leave Petition is dismissed on the ground of low tax effect leaving the question of law open.

Summary

The Supreme Court of India dismissed the Special Leave Petition due to low tax effect, leaving the question of law open. Delay was condoned, and pending applications were disposed of.