Exchanging a Flat for a New One Triggers Capital Gains u/s 2(47); Exemption Available via Section 54.

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....Capital gain - exchange of flats - assessee has exchanged the existing flat with a new flat plus compensation amount. Under sec. 2(47) of the Act, the expression “transfer” includes exchange also. - capital gain to be determined - Assessee is eligible for Exemption u/s 54 - AT....