Exemption U/S 54B
This query is : Resolved
Querist : Anonymous
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?
17 January 2011
At least Possession letter is required to get benefit.
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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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18 January 2011
For section 54, registration is not imperative.
Citation :- Balraj Vs. CIT (2002) 254 ITR 22(Delhi).
Citation :- Balraj Vs. CIT (2002) 254 ITR 22(Delhi).
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