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Mumbai: No tax benefits on house sale if new flat is in wife’s name, says I-T Tribunal
40 views | Dec 13, 2018, 02:21:35 PM | TNN
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The Income-Tax Appellate Tribunal (ITAT)'s Mumbai bench recently denied a taxpayer I-T benefits available when long-term capital gains arising from sale of a residential property are invested in a new house. The sole reason for the denial was that the taxpayer bought the new house in his wife and adult daughter's names.
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