Long Term Capital Gains

Can’t deny tax relief to buyer if builder delays flat delivery

MUMBAI: The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) has held that a taxpayer cannot be denied investment-related tax benefits if due to a builder’s fault the taxpayer does not get timely possession of a house in which the reinvestment was made. The Income-Tax Act provides for benefits relating to capital gains tax, where …

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