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ITAT Allows Full 54EC Relief Because Investments Were in Two Financial Years, 54F Claim Denied Because Joint Ownership Counts as Second House
Case Law Details
- Case Name
- Mukesh Arvindlal Vakharia Vs ITO (ITAT Surat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Surat
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Table of Contents▸
Mukesh Arvindlal Vakharia Vs ITO (ITAT Surat)
1. Deduction under Section 54EC – Disallowance of ₹50,00,000
2. Deduction under Section 54F – Disallowance of ₹48,96,993
3. Disallowance of Expenditure of ₹11,69,488 Against Interest Income from Partnership Firm
Outcome
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Mukesh Arvindlal Vakharia Vs ITO (ITAT Surat)
ITAT Allows Full 54EC Relief Because Investments Were in Two Financial Years; 54EC Deduction Restored as Advance Money Investment Considered Valid; 54F Claim Denied Because Joint Ownership Counts as Second House; Section 54F E...
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