Disallowance of exemption claimed u/s54 of the ITAct,1961.

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..... Assessee has claimed exemption u/s 54 of the ITAct,1961 , by investing ₹1crore in a residential flat developed by the developer on the sold residential house property wherein the Assessee had .....

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..... 20%undivided share .The Long term capital gain on transfer of house property thus invested in residential flat allotted by the developer.The learned Assessing Officer has refused exemption u/s 54 o .....

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..... n the contention that the Assessee was not absolute owner of the house property sold to the developer.In his opinion the exemption is not available to the coowner of house property. This is a new conc .....

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..... ept for me.Kindly share your views. - Disallowance of exemption claimed u/s54 of the ITAct,1961. - Query Started By: - Avinash Joshi Dated:- 23-4-2015 Income Tax - Income Tax - Discussion Forum - .....

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..... Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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