Thursday, March 4, 2021

House purchased in name of assessee’s widow daughter is eligible for Sec. 54F exemption: ITAT

INCOME TAX : Where assessee had invested sale consideration on transfer of Capital Asset in purchasing a new residential property in name of his married widowed daughter, Assessing Officer to grant exemption under section 54F on such amount investedin his daughter's name

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000198561/house-purchased-in-name-of-assessee’s-widow-daughter-is-eligible-for-sec-54f-exemption-itat.aspx

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...