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2020 (5) TMI 261 - AT - Income TaxDeduction claimed u/s 54 - CIT-A restricted to 50% of the claim made on the reasoning that the new residential house has been purchased in the name of assessee and his son - HELD THAT:- As noticed that the entire consideration towards purchase of new residential house has flown from the bank account of the assessee. As held in the case of Mrs. Jennifer Bhide [2011 (9) TMI 161 - KARNATAKA HIGH COURT] that the deduction u/s 54 should not be denied merely because the name of assessee’s husband is mentioned in the purchase document, when the entire purchase consideration has flown from the assessee. Accordingly, following the decision rendered in the case of Mrs. Jennifer Bhide (supra) and the decision rendered by the co-ordinate bench in the case of Shri Bhatkal Ramarao Prakash [2019 (2) TMI 1059 - ITAT BANGALORE] we hold that the assessee is entitled to full deduction u/s 54 of the Act. Accordingly, we set aside the order passed by Ld CIT(A) on this issue and direct the AO to allow deduction u/s 54 of the Act as claimed by the assessee. - Decided in favour of assessee.
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