54f

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 June 2014 Can Husband claimed the deduction u/s 54F in the case of purchase of New Residential house in the name of his wife who is house wife. Please provide the case laws if possible.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 June 2014 there is a house divided on this issue. While in most of the cases courts have ruled in favor of the assessee with liberal interpretation of the section 54/54F, in some of the recent judgments exemptions have been denied.

in cases Prakash vs. ITO 312 ITR 40, Jai Narayan vs. ITO 306 ITR 335, Kalya v CIT 251 CTR and 174 Vipin Malik (HUF) vs. CIT 330 ITR 309, exemption was denied.

on the other hand, in case of CIT vs. Kamal Wahal 351 ITR 4,CIT vs. V Natarajan 287 ITR 271 and Mir Gulam Ali Khan vs. CIT 165 ITR 228 the exemption was allowed

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