{
  "id": 9590392,
  "title": "Wife sold shares, bought husband’s Rs 7.5 crore property; taxman send notice",
  "url": "https://urgent.news/2026/09/24/wife-sold-shares-bought-husbands-rs-7-5-crore-property-taxman-send",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T16:32:01.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/business/india-business/wife-sold-shares-for-rs-8-31-crore-ltcg-bought-husbands-mumbai-property-for-rs-7-5-crore-and-claimed-section-54f-exemption-taxman-calls-it-tax-avoidance-but-itat-mumbai-gives-relief-to-her/articleshow/134465968.cms"
  },
  "original_language": "en",
  "account": "A woman successfully challenged the Income Tax Department's attempt to disallow her Section 54F exemption on the purchase of her husband’s Rs 7.5 crore property. The woman had earned long-term capital gains of Rs 8.31 crore by selling unlisted shares and used Rs 6.92 crore to purchase a residential property from her husband’s sole proprietorship. The department argued that the transaction was a tax avoidance scheme, but the ITAT ruled against them. The tribunal found no evidence of a fraudulent arrangement and noted that the business losses claimed by the husband arose months after the property transaction. The court also stated that purchasing a residential property from a spouse does not disqualify a taxpayer from claiming the Section 54F exemption, provided all other conditions are met.",
  "summary": "When a woman sold her unlisted shares, she reported long-term capital gains of Rs 8.31 crore. In June 2021, she put Rs 6.91 crore into a residential property on Juhu Tara Road, Mumbai, and claimed exemption under Section 54F.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}