Decision on 54b/54f
This query is : Resolved
Nitesh Parmar
(Querist)
21 August 2013
Can anyone please provide me the decision of ITAT Jodhpur or any other on 54B/54F? in case new assets purchased in the joint name of wife. where wife contributed nothing, the name was included only for convenience in case of death of assesse
21 August 2013
What you are actually looking for is not known from your question.
It is very simple that once your wife have not contributed anything then it is your investment and the benefits cannot be taken in 2 hands
It is very simple that once your wife have not contributed anything then it is your investment and the benefits cannot be taken in 2 hands
Nitesh Parmar
(Querist)
21 August 2013
Sir, my assesse had sold land and purchased new agriculture land in the name of assesse and his wife jointly. where wife had contributed nothing in purchase of new assets. assesse has claimed deduction under sec.54 B but department had allowed only 50% deduction.
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