22.03.2022 Capital gain on sale of "garden house" used by taxpayer for ... Where real estate is sold within ten years of acquisition, the gain realized is subject to taxation. Real estate that was used exclusively for the taxpayer's own residential purposes in the period between acquisition and sale is exempt. According to the Supreme Tax Court in its ruling of 26.10.2021 ( IX R 5/21) such privileged use also occurs where the taxpayer permanently occupies a "garden house" (fully connected to the relevant utilities) in violation of building law. Categories: Supreme Tax Court casesKeywords: Real Estate, Income Tax Act, residential ...
