Capitl gains exemption in case of investment in a residential house property [Clause 22 & 24]
{"Image DocumentName": "Capitl gains exemption in case of investment in a residential house property [Clause 22 & 24]", "Image ImageDescription": "Amendment to Section 54 and 54F [w.e.f ] the words constructed, a residential house , the words constructed, one residential house in India shall be substituted. Brief of Amendment: This amendment proposes to clarify that the exemption u/s 54 is only available in respect of purchase or construction of one residential house in India. Cases over-ruled in respect of investment in more than one house. CIT vs. Devdas Naik, ITA No of 2011 (Bombay) Date of decision , CIT v. Smt. K.G. Rukminiamma [2011] 331 ITR 211, CIT vs. Khoobchand M. Makhija [2014] 43 taxmann.com 143 (Karnataka). Case over-ruled in respect of investment outside India. Prema P. Shah Vs. ITO 101 TTJ 849 (Mum) (2006) over-ruled.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}