Deduction claimed u/s 54 of income tax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2017
Whether deduction claimed under section 54 of IT Act disallowed by the assessee during the course of assessment u/s 143(3) of Income Tax Act, However, assessee has asked for the deduction u/s section 54 in respect of another house property purchased complying the requirement of section 54.
Is there is any judicial pronouncement to support the assesee's claim
Please reply early.
Thanks
Is there is any judicial pronouncement to support the assesee's claim
Please reply early.
Thanks
16 December 2017
There is no case law to my mind to support the switching over of reinvested asset.
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