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Exemption U/s. 54B for investment / document Registration in spouse name allowable
Case Law Details
- Case Name
- Mahadev Balai Vs. ITO (Rajasthan High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Rajasthan High Court
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Mahadev Balai Vs. ITO (Rajasthan High Court)
Issue- Whether the Ld. ITAT was justified in disallowing the exemption under Section 54B of the act without appreciating that the funds utilized for the investment for purchase of the property eligible under Section 54B belonged to the Appellant only and merely the registered document was executed in the name of the wife and further, the wife had no separate source of income?
Held by High Court
On the ground of investment made by the assessee in the name of his wife, in view of the decision of Delhi High Court in Sunbeam Auto Ltd. and other judgment...
