Mere fact that assessee was associated with the builder would not disentitle his claim of Sec. 54F exemption

INCOME TAX : Where assessee filed his return claiming deduction under section 54F in respect of purchase of flat from builder which was rejected by Assessing Officer on ground that assessee was interested party, in view of fact that there was no dispute about genuineness of transactions entered into between assessee and builder, mere fact that assessee was one of associated parties in said concern which was developing housing project, could not be a ground to deny benefit of deduction under sect

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