Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Purchase <strong>of</strong> residential<br />
house outside India<br />
• Whether assessee entitled to exemption u/s<br />
54/ 54F<br />
• Held: No, Income Tax Act, 1961 applies only<br />
to India<br />
Leena J Shah v. ACIT (2006) 6 SOT 721 (Ahd(<br />
Ahd)<br />
• Held: Yes, section 54 does not impose any<br />
bar on acquisition outside India<br />
Prema P Shah v. ITO 282 ITR (ITAT) (Mum.)