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Q. > Please Help: Capital Gain u/s 54
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351 views • Question added Feb 02, 2012 • Income Tax • By Abhinav , CA , Alwar


Whether exemption u/s 54 can be avalied by purchasing residential cum property

3 Answers

answered Feb 19, 2012 by Mrattunjay , New Delhi

YES


answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur


answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur

Yes


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lavina bajaj

02-Feb-2012 , 03:52:35 pm

hello abhinav the details furnished by you are incomplete to suggest u on the same.. kindly furnish complete details..

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PANKAJ BANSAL

02-Feb-2012 , 04:11:57 pm

????????

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CA Gaurav Kumar Agarwal

09-Feb-2012 , 02:31:59 pm

within the ambit of ur question which is incomplete. i m suggesing u that. u can get the exemption u/s 54 for the property purchased subject to the condition that the property is residential or u are going to construct residential plot on that property within the time prescribed. Thankls CA Gaurav

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Abhinav

03-Jun-2015 , 02:14:31 pm

Assessee invested residential sale proceeds in Residential cum commercial property , as Urban Improvement trust allotment letter said ground floor as commercial property and first floor is residential, whether sec 54 exemption is available in this case, AO has allowed the exemption but u/s 263 CIT has re-opened the case u/s 148, now AO u/s 148 has deleted the exemption as per direction of CIT, now case in first appeal.

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