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2023 (6) TMI 663 - AT - Income TaxExemption claimed u/s 54F - assessee as co-owner of the other flats as has been alleged by AO - Claim denied as assessee owned interest in more than one residential properties - whether the co-ownership of the assessee in more than one residential properties could make assessee liable for non-eligibility of deduction u/s 54? - HELD THAT:- We find that decision of Dr. P.K. Vasanthi Rangarajan [2012 (7) TMI 563 - MADRAS HIGH COURT] is in favour of the assessee and not a single decision of the Jurisdictional High Court , which is adverse to the assessee, has been referred by the Ld. DR and therefore claim of deduction u/s 54F of the Act need to allowed, as there is no material to show that assessee is exclusively owner of the other five residential properties/flats which are occupied by the other family members. The grounds of appeal of the assessee are accordingly allowed.
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