2011 (8) TMI 170

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..... te Tribunal was justified in allowing the benefit of deduction claimed under Section 54F of the Income Tax Act, 1961 is the question raised in this appeal.   2. The assessee HUF had sold certain immovable properties and out of the sale proceeds received, purchased immovable properties and claimed benefit of deduction under Section 54F of the Income Tax Act, 1961. The assessing officer was of .....

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..... nt 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 the HUF for assessment year 2007-08.   In these circumstances, no fault can be found with the decision of the Income Tax Appellate Tribunal in allowing the benefit of deduction under Section 54F of the Income Tax Act, 1961 on the ground that th .....

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