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2009 (8) TMI 825 - AT - Income TaxBenefit of exemption under section 54F of the Income-tax Act in respect of second property purchased by the assessee - Another plot of land which was purchased by the assessee was adjacent to the plot already purchased during the relevant year itself out of capital gains. - AO observed that deduction under section 54F is provided only if investment is in respect of a residential house and not for an empty plot. AO found that assessee was constructing his house on first plot and second plot was still vacant. - Held that:- In the case of Sunita Aggarwal [2005 (11) TMI 43 - DELHI High Court] - has observed that while claiming exemption under section 54, the property though purchased from two different persons by virtue of four different .sale instances in the shape of four different parcels, constitutes one single residential unit of the assessee, property purchased by the assessee was a single unit and was being used for residential purposes, therefore investment made in respect of both the plots was eligible for claim of exemption under section 54F, appeal of the revenue is dismissed whereas cross-objection filed by the assessee is allowed.
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