Sold house for ₹1.10 crore, tax computed on ₹1.96 crore? ITAT explains when Section 54 relief is still available
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has clarified that taxpayers may still be eligible for capital gains tax exemption under Section 54 even if the Income Tax Department computes capital gains using the higher stamp duty value under Section 50C.