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2013 (12) TMI 1411 - AT - Income TaxAllowance of the claim of exemption under Section 54F of the Act – Held that:- The possession of the property has already been given by the assessee - the registration which was made on 1-9-2005 was a formality - the crucial date of transfer has to be taken into consideration as 16-4-2005 - Even and otherwise, the assessee has invested huge amounts before this date and the assessee claimed deduction only of Rs.33 lakhs or odd – there was no infirmity in the order of CIT(A) – The deduction u/s 54F allowed - Relying upon ACIT Vs. Dr. P.S.Pasricha [2008 (1) TMI 649 - ITAT MUMBAI] - the deduction under Section 54F is allowable even the funds were taken on loan – decided against Revenue.
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