Deduction u/s.54F - Assessee holding more than one property - ...

Assessee's Property Relinquishment in Family Arrangement Not Tax Avoidance; Section 54F Exemption Denial Overturned.

September 11, 2021

Case Laws Income Tax AT

Deduction u/s.54F - Assessee holding more than one property - joint ownership - AO Assessee has relinquished his rights on the two flats - it can be safely concluded that the relinquishment of the half share of his two properties is a family arrangement which cannot be considered as a tax avoidance plan. In view of the above, the Assessing Officer is not correct in denying the benefit of exemption u/s.54F of the Income Tax Act, 1961 to the Assessee.- AT

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Deduction u/s.54F - Assessee holding more than one property - ...

Assessee's Property Relinquishment in Family Arrangement Not Tax Avoidance; Section 54F Exemption Denial Overturned.

September 11, 2021

Case Laws Income Tax AT

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