Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Sale of Late Mother's Flat for Multiple Residential Houses eligible for Income Tax S.54 Exemption: Bombay HC
Income TaxWealth Transition & Succession
The Bombay High Court has ruled that the "sale of a late mother's flat for multiple residential houses" is eligible for a Section 54 exemption. The court's decision provides a significant victory for the taxpayer. The ruling clarifies that a person can claim an exemption even if the proceeds from the sale of a property are used to buy more than one property.
