Denial of deduction u/s 54F - allegation of investment in more ...

Taxpayer Challenges Denial of Section 54F Deduction; Multi-Unit Building Counts as Single Property for Tax Purposes.

July 15, 2022

Case Laws Income Tax AT

Denial of deduction u/s 54F - allegation of investment in more than one house by assessee - The conclusion of Ld. AO overlooks the fact that the multi-storied building was subjected to one property tax assessment and pertinently, it has one door number only. In our considered opinion, there is nothing in the statutory provisions which debar the assessee to make separate independent livable units on a single piece of land or obtain more than one electricity connection to claim the deduction. - AT

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Denial of deduction u/s 54F - allegation of investment in more ...

Taxpayer Challenges Denial of Section 54F Deduction; Multi-Unit Building Counts as Single Property for Tax Purposes.

July 15, 2022

Case Laws Income Tax AT

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