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2017 (7) TMI 1272 - AT - Income TaxDeduction u/s 54F - assessee holding more than one residential property - assessee contended that it was holding only one house property in the status of individual and joint ownership in another house - CIT-A allowed the claim - HELD THAT:- CIT(A) has granted relief to assessee by placing reliance on many judicial pronouncements where a liberal view has been taken by various courts / authorities as it is well settled that beneficial provisions should be construed liberally. We find that the ratio of decision in Dr. Smt. P. K. Vasanthi Rangarajan Vs. Commissioner of Income Tax Chennai. [2012 (7) TMI 563 - MADRAS HIGH COURT] squarely applies to the case of the assessee wherein as clearly held that joint ownership of a property could not be held to stand in assessee’s way of claiming exemption u/s 54 of the Act. DR could not point out any contrary decision in revenue’s favor. - Decided against revenue
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