section 54 exemption interpreted too broadly by the karnataka high court

section 54 exemption interpreted too broadly by the karnataka high court




It seems that controversy and capital gains go hand in hand. The Karnataka High Court in the case of Arun K. Thiagarajan vs. Deputy CIT in ITA No.25 of 2011- Judgment dated 18th June,2020, if one may be permitted to say so, has stirred up controversy by holding that prior to amendment -viz prior to the assessment year 2015-16- the assessee is entitled to claim exemption under section 54 of the Income-tax Act (the Act)







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