Builder delayed agreement by 5 years, tax dept denied 54F relief; why ITAT Mumbai sided with woman who sold land for Rs 70 lakh

A Mumbai woman successfully claimed capital gains tax exemption under Section 54F after selling land for Rs 70 lakh and investing in a new apartment. Despite a five-year delay by the builder in executing the sale agreement, the ITAT Mumbai ruled in her favor, acknowledging her timely payments and acquisition of rights to the property.

from Tax-Wealth-Economic Times https://ift.tt/ARFxMDm