Friday 11 December 2015

Co-ownership in second house doesn't lead to denial of sec. 54F relief

IT : Where Assessing Officer rejected assessee's claim for deduction under section 54F on ground that assessee owned more than one residential house property at time of sale of long term capital asset, since assessee was a mere co-owner in one of said residential property, impugned order passed by him deserved to be set aside

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