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Income Tax - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Deduction u/s 54 is allwable to assessee applying rule of ...


Taxpayer Eligible for Section 54 Deduction if Sole Contributor, Even if Land is HUF's: Purposive Construction Applied.

March 4, 2019

Case Laws     Income Tax     AT

Deduction u/s 54 is allwable to assessee applying rule of purposive construction and the object which Section 54F seeks to achieve if on facts it was proved that Money has only been contributed by the assessee irrespective the fact that land belong to HUF which is not stranger to assessee.

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