LTCG - Exemption u/s 54 and 54EC - The property was received by ...

Case Laws Income Tax

December 16, 2023

LTCG - Exemption u/s 54 and 54EC - The property was received by the appellant as a 'gift'. The provision of subsection (1) of Section 49 of the Act is squarely applicable. Consequentially, the period of holding of the previous owner, as specified in clause (42A) of Section (2) of the Act will also apply. Accordingly, the exemption u/s 54 and 54EC of the Act cannot be denied to the appellant. - AT

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LTCG - Exemption u/s 54 and 54EC - The property was received by ...

Case Laws Income Tax

December 16, 2023

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