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THE HONOURABLE MR. JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MRS. JUSTICE V.BHAVANI SUBBAROYAN. –in the case of the assessee being an individual, the long term capital gains arising on the transfer of a residential house will be exempt from income tax if the assessee has, within a period of one year before or after that date either purchased or within a period of three years after that date constructed a residential house. For this purpose, the long term capital asset means a capital asset, which is not a short term capital asset.” 16. From the above, it is clear that the intention of the Legislature was to either purchase before or after the date of sale and the word ‘purchased’ or ‘constructed’ used in the Notes on Clauses amply makes the intention clear. In the light of the above discussions, we hold that the substantial question of law is required to be answered in favour of the assessee. 17. In the result, the above tax case appeal is allowed and the substantial question of law is answered in favour of the assessee. No costs.
by Sekar Reporter · Published September 15, 2020
[12/21, 17:59] Sekarreporter 1: https://wwwsekarreporter.wordpress.com/2019/12/21/12-21-1754-nappinai-advt-sc-evidence-may-be-given-either-through-submission-of-the-original-electronic-document-or-its-copy-if-you-are-relying-on-a-copy-it-may-be-a-printout-or-in-elec/ [12/21, 19:02] Sekarreporter 1: [12/21, 18:23] Sekarreporter 1: https://twitter.com/sekarreporter1/status/1208363838954827776?s=08 [12/21, 18:58] Sekarreporter 1: [12/21, 18:24] Senthil News 7: Congrads mam💐💐💐 [12/21, 18:25] Hindu Tamil Saravanakumar: 💐💐💐💐💐 [12/21, 18:26] Madan News press : sir…💐🤝🏻💐🤝🏻💐🤝🏻💐🤝🏻😊 [12/21, 19:05] Sekarreporter 1: [12/21, 19:04] NewsJ Jegadish Natarajan: Congrats mam 💐💐 [12/21, 19:05] Sekarreporter 1: 👍
by Sekar Reporter · Published December 21, 2019
by Sekar Reporter · Published November 29, 2020