TMI Blog2020 (2) TMI 1524X X X X Extracts X X X X X X X X Extracts X X X X ..... l house). Courts have consistently held that post amendment benefit of section 54F will be applicable only to one residential house in India whereas prior to the amendment residential house would include multiple residential house/units. We are of the opinion that assessee is entitled to deduction under section 54F of the act in respect of 35% of constructed property received by her. Accordingly, this ground raised by assessee stands allowed. - ITA 2818/Bang/2018 - - - Dated:- 19-2-2020 - SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER For the Appellant : Shri. V. Srinivasan, Advocate For the Respondent : Shri. Manjeet Singh, Addl. CIT ORDER PER BEENA PILLAI, JUDICIAL MEMBER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Aggrieved by order of Ld.AO, assessee preferred appeal before Ld. CIT(A), wherein, assessee relied upon decision of Hon ble Karnataka High Court in case of Anand Basappa reported in 309 ITR 329 and K. G. Rukminiamma reported in 331 ITR 221. It was submitted that, on identical facts of case of assessee claim under section 54 was granted which is pari materia with section 54F of the Act. 4. Ld. CIT(A) was of the opinion that, assessee cannot seek any benefit due to decision of Special Bench of this Tribunal in case of Suseela M Zaveri reported in 110 ITD 327. Ld. CIT (A) was of the view that, residential houses received by assessee under JDA cannot be termed to constitute a residential house for purpose of 54F of the Act. Aggriev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... divided interest. Assessee claimed exemption under section 54F on the value of the 35% of constructed area which was denied by Ld. AO and confirmed by Ld. CIT(A). Before us assessee urges that, she is eligible for exemption under section 54F on the 35% of constructed area received in view of the land she had parted with. 6. It is observed that in decisions relied upon by Ld.AR reproduced hereinabove, Hon ble Madras High Court, Hon ble Karnataka High Court has categorically held that amendment to section 54F with regard to a by Finance (No.2) Act, 2014 w.e.f. 01/04/2015 withdrawing deduction for more than one flat (residential house). Courts have consistently held that post amendment benefit of section 54F will be applicable only to one ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
