Revision u/s 263 - Deduction u/s 54F - In the instant case, ...

Section 263 Revision: Does Building a Room on 90% Open Land Qualify for Section 54F Deduction?

August 9, 2021

Case Laws Income Tax AT

Revision u/s 263 - Deduction u/s 54F - In the instant case, where there is 90% approx. of open space and merely 10% of built up area by way of construction of a room, can it be said that assessee has constructed a residential house with land appurtenant thereto. In our considered view, the said matter has clearly escaped the attention of the AO and to that extent, the order so passed is clearly erroneous and prejudicial to the interest of the Revenue. - AT

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Revision u/s 263 - Deduction u/s 54F - In the instant case, ...

Section 263 Revision: Does Building a Room on 90% Open Land Qualify for Section 54F Deduction?

August 9, 2021

Case Laws Income Tax AT

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