The Economic Times

Lady sells listed equity shares for Rs 26 crore and constructs house, pays no capital gains tax; ITAT Kolkata rules in her favour

A woman successfully claimed capital gains tax exemption on Rs 26 crore from selling shares. The Income Tax Appellate Tribunal in Kolkata ruled in her favour, allowing her claim under Section 54F. She invested the proceeds in constructing a residential property. The tribunal clarified rules regarding joint ownership, property usage, and construction timelines.