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2004 (7) TMI 68 - HC - Income TaxBenefit of section 54F - whether the Tribunal was correct in considering that the building at Thodupuzha is not a residential house - What is now stated by the assessee is that the building is not used for residence. On the other hand, it is used for the purpose of a firm and hence the Assessing Officer was not justified in holding that the benefit of section 54F is not available to him. According to us, the restricted remand by the Appellate Tribunal is not correct. The Assessing Officer, according to us, should consider again on remand, the question whether the building at Thodupuzha is a residential house, taking into account the proviso of section 54F also. – Matter remanded
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