https://www.taxtmi.com/caselaws?id=389490 The Appellate Tribunal ITAT DELHI ruled in favor of the assessee in a case concerning the assessment of long term capital gain on the transfer of property rights under a collaboration agreement. The Tribunal held that the assessee was entitled to claim exemption under section 54 of the Income Tax Act, emphasizing that the physical structuring of the residential property should not impede the allowance of deductions. The Tribunal overturned the AO's decision, deleting the addition of deemed long term capital gain and allowing the assessee's appeal for the Assessment Year 2016-17. en-us Fri, 06 Dec 2019 00:00:00 +0530 Mon, 09 Dec 2019 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389490 The Appellate Tribunal ITAT DELHI ruled in favor of the assessee in a case concerning the assessment of long term capital gain on the transfer of property rights under a collaboration agreement. The Tribunal held that the assessee was entitled to claim exemption under section 54 of the Income Tax Act, emphasizing that the physical structuring of the residential property should not impede the allowance of deductions. The Tribunal overturned the AO's decision, deleting the addition of deemed long term capital gain and allowing the assessee's appeal for the Assessment Year 2016-17. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389490