Livemint

Does Section 54F tax exemption apply if LTCG is used to buy property from spouse? Here's what the ITAT ruling says

The Mumbai ITAT ruled that a genuine property purchase from a spouse cannot be denied Section 54F tax exemption merely because it results in tax savings. The tribunal found no evidence of tax avoidance and allowed a taxpayer's 6.92 crore exemption claim after the tax department challenged it.