March 2019

Section 54F r.w.s 50 Deeming fiction of section 50 cannot be extended to the deduction allowable u/s. 54F and therefore, assessee is entitled for deduction u/s. 54F on the capital gains arising on the sale of depreciable assets as these assets were held for a period of more than thirty-six months.

Jagdish T. Punjabi | Devendra Jain | Tejaswini Ghag
Chartered Accountants

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