IT : Assessee was entitled for section 54F deduction on purchase of share in a farmhouse though right in land on which said property was constructed was not transferred
■■■
[2015] 53 taxmann.com 312 (Mumbai - Trib.)
IN THE ITAT MUMBAI BENCH 'C'
Chandrakant S. Choksi HUF
v.
Assistant Commissioner of Income-tax, Circle 18 (1), Mumbai*
SANJAY ARORA, ACCOUNTANT MEMBER
AND AMIT SHUKLA, JUDICIAL MEMBER
IT APPEAL NO. 3540 (MUM.) OF 2013
[ASSESSMENT YEAR 2009-10]
NOVEMBER 26, 2014
Section 54F of the Income-tax Act, 1961 - Capital gains - Exemption of in case of investment in residential house (Farm house) - Assessment year 2009-10 - Whether even where assessee purchased share in a property without right in land on which said property was constructed being transferred to assessee, assessee was eligible for deduction under section 54F - Held, yes [Paras 4.1 and 4.2] [In favour of assessee]
■■■
[2015] 53 taxmann.com 312 (Mumbai - Trib.)
IN THE ITAT MUMBAI BENCH 'C'
Chandrakant S. Choksi HUF
v.
Assistant Commissioner of Income-tax, Circle 18 (1), Mumbai*
SANJAY ARORA, ACCOUNTANT MEMBER
AND AMIT SHUKLA, JUDICIAL MEMBER
IT APPEAL NO. 3540 (MUM.) OF 2013
[ASSESSMENT YEAR 2009-10]
NOVEMBER 26, 2014
Section 54F of the Income-tax Act, 1961 - Capital gains - Exemption of in case of investment in residential house (Farm house) - Assessment year 2009-10 - Whether even where assessee purchased share in a property without right in land on which said property was constructed being transferred to assessee, assessee was eligible for deduction under section 54F - Held, yes [Paras 4.1 and 4.2] [In favour of assessee]
No comments:
Post a Comment