Deduction u/s 54

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Suppose 

A = Assessee(Father), B= grand Father,  C = yonger Son, D=elder son

Assessee(A) having Resi House Prop. which he has got ancestrol from his Father(B). Sold the same property & purchased new property in the name of  Son(C). ( earlier one ancestrol peoperty already tranfered by grand father(B) to assessee's(A's) Elder son(D).  so Assessee(A) for safegurding interest of other son(C)  , assessee(A) has purchased new house in the name of second son(C)

Whether deduction u/s 54 is available to assessee(A) ???? 

 

Replies (1)
yes, assesse has to prove that he made the payment from his own money. it is not mandatory that the property must be in his own name similar decision in CIT vs Kamal Wahal (delhi HC)


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