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2012 (10) TMI 145 - AT - Income TaxExemption u/s 54F - flat purchased in the name of his minor daughter - Held that:- A bare reading of section 54F(1) makes it clear that there is no requirement that the house has to be purchased in the name of the assessee only. The only requirement of the provision is the assessee must have purchased the house. In the present appeal, the fact remains that the minor daughter has no ostensible source to make such investment in purchase of flat. It is the assessee who had actually made the investment out of the consideration received towards sale of shares. The assessee has also explained the reason behind registration of the house in the name of his minor daughter. As decided in Late Mir Gulam Ali Khan (by Legal Representative Mrs. Noor Begum Versus Commissioner Of Income-Tax [1984 (12) TMI 9 - ANDHRA PRADESH HIGH COURT] the word 'assessee' also includes the legal heir - Also CIT v. Ravinder Kumar Arora [2011 (9) TMI 343 - DELHI HIGH COURT] states that Section 54F mandates that the house should be purchased by the assessee and it does not stipulate that the house should be purchased in the name of the assessee only. Thus considering the well settled principle of law that when there are divergent views, to give effect to a beneficial provision the view favourable to the assessee has to be adopted - decided in favour of assessee.
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