Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (3) TMI 155 - ITAT AHMEDABADDisallowance of exemption u/s 54F - This exemption was denied to the assessee on the ground that new plot was not purchased by him in his individual name, but it was purchased in the name of HUF. - HELD THAT:- Assessee has his share to the extent of 1/4th in the HUF. The other members of HUF are not stranger. They are wife of the assessee and two sons. Money has only been contributed by the assessee. Therefore, to our mind, the facts as available in CIT Vs. Kamal Wahal [2013 (1) TMI 401 - DELHI HIGH COURT] are squarely applicable on this case. We allow the appeal of the assessee, and direct the AO to grant exemption under section 54F of the Income Tax Act to the assessee. - decided in favour of assessee.
|