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Income Tax - Highlights / Catch Notes

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Exemption / eduction u/s 54F - more than one residential house - ...


Exemption u/s 54F Allowed as Oral Gift to Minor Daughter Validates Non-Ownership of Second House.

April 28, 2015

Case Laws     Income Tax     AT

Exemption / eduction u/s 54F - more than one residential house - assessee claimed that old proerty was gifted to minor daughter through an oral HIBA - Since the gifts are held to be valid, the assessee cannot be regarded as owner of two residential house - exemption allowed - AT

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