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Exemption U/S 54B

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 January 2011 If property is purchased but registry is not done then will I be able to claim the exemption under Sec 54,54B?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
17 January 2011 At least Possession letter is required to get benefit.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
18 January 2011 Yes it can be claimed as there is no provision in the Act that Property must be registered. The word puchase is mentioned.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 January 2011 For section 54, registration is not imperative.
Citation :- Balraj Vs. CIT (2002) 254 ITR 22(Delhi).

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