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Man sells Delhi property, shifts to Australia; tax dept adds Rs 40 lakh as unexplained cash credit, but he wins in ITAT Delhi

The Income Tax Appellate Tribunal in Delhi has made waves with its recent ruling. Taxpayers can now benefit from capital gains tax exemptions when they sell Indian property to invest in international real estate, as long as the overseas investment was completed before the 2015-16 Assessment Year. This decision, which reversed denied claims for Mr.