The assessee is eligible for deduction under section 54F even when he has claimed exemption

 The assessee is eligible for deduction under section 54F even when he has claimed exemption

The assessee is eligible for deduction under section 54F even when he has claimed exemption under section 54 by making investment in name of his wife. In this case Hon'ble High Court of Karnataka has observed that section 54F of the Act which deals with capital gain and transfer of certain capital assets not to be charged in case of investment in residential house cannot be treated on par with Section 54. For qualifying for the exemption under section 54F of the Act, what is mandatory is the investment to be made in residential house in the name of the assessee only. Case - Antony Parakal Kurian vs ACIT (IT APPEAL NO. 254 OF 2021)



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