if possession of house is not given within 3 years for long term capital gains benefit but the gain has been already utilized in payment of instalment within 3 years, then whether i am still eligible for LTCG benefit ?
abhay kumar (chief manager) 13 April 2013
if possession of house is not given within 3 years for long term capital gains benefit but the gain has been already utilized in payment of instalment within 3 years, then whether i am still eligible for LTCG benefit ?
R RAJAGOPALAN (ADVOCATE) 15 April 2013
You may rely on order dated JUNE 13, 2012 of THE ITAT MUMBAI BENCH ‘A’ in Kishore H. Galaiya v. Income-tax Officer, in IT Appeal No. 7326 (Mum.) of 2010 [Assessment Year 2006-07] , and claim deduction.
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