Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
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The assessee received two flats in exchange for old properties under a redevelopment agreement. Section 2(47) of the Act defines 'transfer' to include various transactions, including the exchange of a capital asset. Since the assessee exchanged old flats for new flats as per the redevelopment agreement, it constitutes an exchange of capital assets. Therefore, the assessing officer is directed to allow the claim of deduction u/s 54 of the Act, as per the precedent set by the Income Tax Appellate Tribunal in the case of Shri Dilip P. Ahuja.
The assessee received two flats in exchange for old properties under a redevelopment agreement. Section 2(47) of the Act defines 'transfer' to include various transactions, including the exchange of a capital asset. Since the assessee exchanged old flats for new flats as per the redevelopment agreement, it constitutes an exchange of capital assets. Therefore, the assessing officer is directed to allow the claim of deduction u/s 54 of the Act, as per the precedent set by the Income Tax Appellate Tribunal in the case of Shri Dilip P. Ahuja.
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