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54b applicability

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24 December 2011 Whether Section 54B is applicable to Corporate assessee.

Mean to say 54B exemption available to Private Limited Company
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CA Garav Gulati

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CA Garav Gulati (Expert)
24 December 2011 No as 54B applies to individual only as act defines assessee and his parents.
Only individual can have parents not a company assessee or huf.

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