Exemption Denied: Section 54F Long Term Capital Gains Not Applicable Due to Non-Residential Superstructure on Open Land.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption claimed u/s 54F - LTCG - The vast open land with naturally grown grass, a grossly asymmetric consumption of land for construction of superstructure (cost less than 1% of total costs), the occupation of the superstructure by a watchman/caretaker clearly indicates that such superstructure cannot be mechanically reckoned as a residential house. - No exemption .....