Case Law Details
Case Name : Commissioner of Income-tax Vs Gita Duggal (Delhi High Court)
Appeal Number : IT Appeal No. 1237 OF 2011
Date of Judgement/Order : 21/02/2013
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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HIGH COURT OF DELHI
Commissioner of Income-tax
versus
Gita Duggal
IT APPEAL no. 1237 OF 2011
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I fully agree with R. Ramamurthy. It is not possible in many situation where the assesses invest full amount of capital gain in one unit. the assesses compromise in all respect because of income tax.
I think CBDT to issue the circular and clarify in this matter.
It is high time for the CBDT to issue ciruclar instructions to department officers to accept the claim of deduction u/s.54/54F of the above nature. It is the period of apartment age. It is difficult to have one Big unit in one floor of anApartment for various reasons. The Hon’ble Delhi High Court as very well explained the intentions of the land owner. As long as the budilding is used for residential purposes the exemption needs to be given and the deniel of exemption can be only when it is used for commercial purposes. Change of cirucumstances only made the Revenue to introduce section 54F of the Act and I do not know why such beneficial provision be curftailed placing unrealistic interpretations by the Department Officials.