Exemption for residential capital gains confirmed for self-occupied property despite nil deemed annual value under income tax treatment. Exemption for capital gain on transfer of a long term residential house is available for self occupied property because income from a self occupied house remains chargeable under the head Income from House Property even if its annual value is computed as nil under the deemed annual value rule and related deductions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for residential capital gains confirmed for self-occupied property despite nil deemed annual value under income tax treatment.
Exemption for capital gain on transfer of a long term residential house is available for self occupied property because income from a self occupied house remains chargeable under the head Income from House Property even if its annual value is computed as nil under the deemed annual value rule and related deductions.
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