2011 (8) TMI 170

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..... ction under Section 54F of the Income Tax Act, 1961 - . In para10 of its order, the Income Tax Appellate Tribunal has recorded a finding of fact that the immovable property in question has been purchased from the HUF account, that the purchase document records the permanent account number of the HUF and that the income received from the property purchased have been assessed to tax in the hands of .....

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..... s namely Dr.Dinesh Megji Toprani and Mrs.Jyoti Dinesh Toprani and not in the name of the HUF and, therefore, the assessee was not entitled to the deduction under Section 54F of the Income Tax Act, 1961. On appeal filed by the assessee, the Commissioner of Income Tax (Appeals) allowed the claim of the assessee and by the impugned order, the Income Tax Appellate Tribunal has affirmed the decision of .....

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