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1999 (2) TMI 672 - AT - Income Tax
Extract:
.......the hands of the HUF only. In this view of the matter, we do not find it necessary to go into the reasons given by the Assessing Officer for denying the deduction under section 54. In the circumstances, we delete the addition of ₹ 11,59,250 being the capital gains brought to tax in the hands of the appellant. 40. The appeal is partly allowed.