Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Incomplete house<br />
• Capital gains invested in construction<br />
<strong>of</strong> residential house with in the<br />
stipulated time<br />
• More funds required to complete the<br />
construction in a particular manner<br />
• Assessee entitled to exemption as the<br />
utilization <strong>of</strong> the capital gains is<br />
complete<br />
• Ajay Goyal v. ITO (ITA No 493 <strong>of</strong> 2004<br />
dt 9-5-2005)