A taxpayer can claim capital gains exemption for a new house even without filing an original tax return. The Mumbai ITAT ruled that such claims are valid if made during reassessment proceedings. This decision supports taxpayers by preventing procedural errors from blocking legitimate tax benefits. The case involved a taxpayer who reinvested capital gains in a new property. https://realty.economictimes.indiatimes.com/news/regulatory/tax-tribunal-rules-capital-gains-exemption-allowed-even-without-original-return-filing/130322117?utm_source=top_story&utm_medium=latestNews
