No capital gain exemption under section 54F if investment is not in a residential house

 

Delhi HC has dismissed assessee appeal’s and upheld the ITAT’s order, which had placed reliance on registered sale deed and revenue records in addition to the findings of physical inspection, to conclude that the assessee’s investment was not in a residential house and, therefore, the benefit of Section 54F of the Act was not available to the Assessee.

 

The copy of the order is as under:

No capital gain exemption under section 54F if investment is not in a residential house